Cuba economic issues - 1248 Words

INTRUDUCTION: In economics, the term currency can refer either to a particular currency, for example the BD, or to the coins and banknotes of a particular currency, which comprise the physical aspects of a nations money supply. The other part of a nations money supply consists of money deposited in banks, ownership of which can be transferred by means of cheques or other forms of money transfer. Deposit money and currency are money in the sense that both are acceptable as a means of exchange, but money need not necessarily be currency. Historically, money in the form of currency has predominated. Usually (gold or silver) coins of intrinsic value commensurate with the monetary unit (commodity money), have been the norm. By contrast,†¦show more content†¦However as coca production began to increase in the latter half of the decade , GDP growth slowed and unemployment increases . It is estimate that the illegal drug sector employs 6.7 per cent of agricultural workers while the main legal crop , coffee employs 12 per cent . Although there may be short term wage gains for individual peasants , in the long run there are negative consequences since farmers have minimal incentives to work towards a modern competitive agricultural sector. Illegal drug trade has serious consequences for the Colombian economy , particularly in terms of the macro economy. Macroeconomics imbalances resulted from an overvalued peso and influx foreign exchange . the larg influx of foreign exchange resulted in phenomena known as Dutch Disease ( it is when the demand for an exported resources increase dramatically , resulting in an overvalued currency then other exports are made less competitive in the world market and foreign imports are more competitive domestically , this can cause a deindustrialization of the domestic economy) , and may have precipitated in the economic crisis of the late 1990s. 3- inflation rate and monetary policy : Even though Colombia was able to avoid the hyperinflation characterstics of argentina and brazil in the 1980s, persistent annual increases in the consumer price index of 20 to 25 percent had been evident since the mid 1970s. Higher coffee revenues in the 1970s caused rapid increase in theShow MoreRelatedAmericas Cuban Conundrum1248 Words   |  5 PagesAmericas Cuban Conundrum: One of the most controversial and widely debatable issues that have been discussed extensively in international legislation for several decades is the Helms-Burton Act. The main controversy surrounding the Helms-Burton Act is the resistance from the Cuban government regarding the features of the legislation. The resistance is a clear demonstration of the legality of property claims despite of the passage of time. Throughout history, rarely has an initiative by the AmericanRead MoreA Brief Biography of Fidel Castro1316 Words   |  5 PagesHis full name is Fidel Alejandro Castro Ruz and he was born on August 13, 1926 in a Birà  n, Cuba. Castro’s parents are Angel Castro(father) and Lina Ruz(mother). His father was a wealth landowner while his mother was a cook and maid to Angel. Castro was the third of six children in his family. His parents sent Fidel to a Jesuit boarding school where he was disciplined and showed the true potential of his intellect. While in boarding school , he also showed a much bigger interest in sports rather thanRead MoreThe Extent of Fidel Castros Achievement of His Aims Between 1959 and 19791459 Words   |  6 Pagesachieving more? During Fulgencio Batista’s reign in Cuba, Fidel Castro had insistently professed his dissatisfaction with the government, and when he finally took over in 1959, he effected a government that formed the basis from which the criticism of many historians today derives. To a minimal extent, Fidel Castro was able to achieve his aims between 1959 and 1979. Revealed in the 26th of July Movement’s doctrine, Castro’s goals called for Cuba to become fully independent and purely democratic whileRead MoreCub A Communist State Led By Raul Castro849 Words   |  4 PagesCuba is geographical located among the Caribbean islands , it is surrounded by many small Island groups , it is largest among them . It is surrounded by the busiest sea commerce route in the Atlantic. Cuba was discovered by Christopher Columbus in 15 th century from the Old world. Since then it was ruled by Spanish, and it won the freedom in 1902.Since the Island nation is in the cross roads of seafarers it is inhibited by multi ethnic people ranging from the nativeRead MoreCuba s Current Gross National Income Per Person Of $ 5890 ( Talley )1433 Words   |  6 PagesJason Lee Captain Czak History 300 21 October 2016 Cuba Cuba’s current gross national income per person of $5,890 (Talley), enormous debt, and other poor economic conditions can be explained by events tracing back post-World War II in 1945. The island of Cuba was inhabited by different Mesoamerican cultures but introduced to European cultures in 1492 with the arrival of Christopher Columbus. Spain began to colonize Cuba among other Caribbean islands in the 16th century and utilized the island asRead MoreThe Migration Policy Between America And Cuba929 Words   |  4 Pages Newspaper article reflection Summary In this article, the author Nick mainly addresses the issue of the migration policy between America and Cuba. President Obama recently resumed the diplomatic relations with Cuba, which has led to a surging number of Cuban immigration, especially the illegal immigrants, to the United States, because many Cubans feel afraid that their long-standing immigration privileges as political refugees will no longer exist. Beginning in 1966, the Cuban AdjustmentRead MoreCuban-Russian Relations1710 Words   |  7 Pagesrelationship dating back to before Fidel Castro’s installment into power, Russia and Cuba have both played major roles in the development and regression of each other’s economies and societies. The first official diplomatic relationship between the Soviet Union and Cuba began developing during World War II, in 1943. With the establishment of the first Soviet embassy by Maxim Litvinov, stationed in Havana, Cuba; this was after Cuba gained its independence from the United States in 1902 and the Russian RevolutionRead MoreShould the United States Lift the Embargo on Cuba? Essay1428 Words   |  6 PagesAmerican international relations with Cuba have almost always been tense. The cold war solidified the growing negative relations, and the embargo embodied it. But now that the cold war is over, as is the Cuban missile crisis, we’re left to wonder if the embargo is really necessary. Should the United States lift the embargo of Cuba? All of the evidence, be it economic, diplomatic, or social, points to yes. We should lift the embargo. The United States embargo of Cuba has its roots planted in 1960, 53Read MoreCulture, Core Values, And Cultural Awareness Of Cuba926 Words   |  4 PagesCultural Awareness of Cuba Culture embodies a myriad of concepts that include customs, behaviors, core values, and beliefs which support a specific population within a community or country. Culture is a well-defined set of principles and beliefs which are strengthened by the people who represent these ideals. Each culture has its own unique and distinctive principles and engages its members as part of a group whose key ideals are aligned with its beliefs and practices. Each culture demonstratesRead MoreHow the Cuba Policy Affected trade with the U.S. Today Essay1286 Words   |  6 PagesHow the Cuba Policy Affected trade with the U.S. Today The Cuba Policy came into effect to end all relations between the United States and Cuba. The U.S. policy toward Cuba is controlled by the embargo, which contains economic agreements and restrictions on travel to Cuba. The effect of this policy is to minimize commercial, political and resident relations between the United States and Cuba. The State Department indicated that the purpose of the embargo was to have a nonviolent transition to a