A raging fire at a Cuban oil facility worsens the island's energy crisis
NPR Online NewsJUL 2022
The Spin
Narrative A
This latest announcement, along with other reforms that Cuba is undertaking, represents a major ideological shift in a country where the government has monopolized the economy for years. Allowing foreign investment in wholesale and retail trade will boost the local industry at a time of severe shortages in basic goods. This is the right decision.
Narrative B
Allowing "selective" foreign investments in wholesale and retail trade is too little, too late, and won't actually adjust the country's state-led economic model. The limitations and regulations that accompany the latest announcement mean that overseas investments will remain under state regulation, and will likely have little impact on the ailing economy.
Metaculus Prediction
There's a 50% chance that there will be at least four communist states by 2050, according to the Metaculus prediction community.
