The US has an embargo, but Mexico and Canada don’t. Cuba can and does buy goods from them. Cuba’s real problem is paying for them. The US does not embargo food or medicine goods to Cuba, yet the country has problems feeding their people. Poor economic management of a communist country with no real resources.
The US has an embargo, but Mexico and Canada don’t.
Technically, but the US has sanctioned companies in other countries who do business in Cuba scaring off a ton of possible choices. The companies have to choose between the richest company on earth and Cuba. Not much of a choice.
Plus IIRC boats that go to Cuba can’t go to the US after for some period of time. Which considering location makes it hugely inconvenient for shipping companies.
Plus since the US and US based companies control a huge portion of the world’s financial systems Cuba is locked out of all of them
There are exceptions for the very few things the US authorizes to export to Cuba, but in general:
What are the “180-day rule” and the “goods/passengers-on-board rule”?
The 180-day rule is a statutory restriction prohibiting any vessel that enters a port or place in Cuba to engage in the trade of goods or the purchase or provision of services there from entering any U.S. port for the purpose of loading or unloading freight for 180 days after leaving Cuba, unless authorized by OFAC. This restriction is applied even if a vessel has stopped in Cuba solely to purchase services unrelated to the trade of goods, such as planned ship maintenance.
Cuba can’t pay because Cuba can’t conduct normal finances with the rest of world because of the US embargo
It’s like having having someone handcuff you, cuff you feet and pin you to the ground and rest their knee on your neck and ask you why you can’t get up on your own.
You are technically correct … but there are several convoluted rules and regulations controlled and mandated by the US that it makes it either very difficult or impossible for most countries to do business or trade with Cuba.
Cuba can trade with anyone they want … it’s just purposely made so difficult that very few do so and the ones who do provide very little in exchange.
The question is, with what currency? The Cuban dollar is not really worth anything outside Cuba, so they can only rely on exports to fund currency needed to buy imports.
This is true, but not due to a US embargo. I should think that the state has access to many different currencies. But, in the end, they have limited resources. Cigars, some Rum (though a lot of countries distil and export rum in the Caribbean). They used to export mercenaries and doctors but noone is buying now.
You don’t think being explicitly barred access from what is essentially considered “the world currency” at this point wouldn’t change their access? C’mon.
The US has an embargo, but Mexico and Canada don’t. Cuba can and does buy goods from them. Cuba’s real problem is paying for them. The US does not embargo food or medicine goods to Cuba, yet the country has problems feeding their people. Poor economic management of a communist country with no real resources.
Technically, but the US has sanctioned companies in other countries who do business in Cuba scaring off a ton of possible choices. The companies have to choose between the richest company on earth and Cuba. Not much of a choice.
Plus IIRC boats that go to Cuba can’t go to the US after for some period of time. Which considering location makes it hugely inconvenient for shipping companies.
Plus since the US and US based companies control a huge portion of the world’s financial systems Cuba is locked out of all of them
A citation is needed on the first paragraph
Barges float to Cuba from the US twice a week.
Last paragraph is true. Cuba cannot use US banking.
There are exceptions for the very few things the US authorizes to export to Cuba, but in general:
https://ofac.treasury.gov/faqs/topic/1541
So you couldn’t find anything. Nice
Really has nothing to do with article.
Cuba can’t pay because Cuba can’t conduct normal finances with the rest of world because of the US embargo
It’s like having having someone handcuff you, cuff you feet and pin you to the ground and rest their knee on your neck and ask you why you can’t get up on your own.
They can certainly conduct commerce with the rest of the world.
You are technically correct … but there are several convoluted rules and regulations controlled and mandated by the US that it makes it either very difficult or impossible for most countries to do business or trade with Cuba.
Cuba can trade with anyone they want … it’s just purposely made so difficult that very few do so and the ones who do provide very little in exchange.
https://www.politifact.com/factchecks/2021/jul/19/facebook-posts/cuba-can-trade-other-countries-heres-some-context/
What I read in your link is not so much Political fact but a disagreement of experts.
What I read in your text is that trade is to difficult, however it is done.
If you’re a company why would you even fuck with more difficult trade.
The important part that you miss is that they do. So, it must not be that difficult
Survivorship bias!
No such word. Read the final paragraph of the link above.
The question is, with what currency? The Cuban dollar is not really worth anything outside Cuba, so they can only rely on exports to fund currency needed to buy imports.
This is true, but not due to a US embargo. I should think that the state has access to many different currencies. But, in the end, they have limited resources. Cigars, some Rum (though a lot of countries distil and export rum in the Caribbean). They used to export mercenaries and doctors but noone is buying now.
You don’t think being explicitly barred access from what is essentially considered “the world currency” at this point wouldn’t change their access? C’mon.
They’re not barred from access. Just can’t use US banks. There are many banks in the world.
The world is run by the USD. If you can’t do business using USD, it is crippling.
Hate to tell you this, but most banks in the world deal in multiple currencies including USD.
They’re allowed to play monopoly, they just can’t use the regular monopoly money.
The global economy is run on the US dollar. It’s the measuring stick all other currencies use as a reference point.
Again, world banks deal in multiple currencies.