On March 28 it will be exactly one year since I became a Babalu contributor. In my first post I talked about the differences between trading with China and Cuba. I also mentioned the fact that embargo opponents don’t simply want trade, they want credit for castro.
The last factor I’d like you to consider in comparing China and Cuba is credit. Opponents of the embargo never tell you that Cuba is free to purchase food and medicine from the US on a cash up-front basis and that, in fact, the US is currently the largest supplier of food to Cuba. What embargo opponents are really angling for is credit for Cuba. But Cuba is an incredible credit risk. It owes Russia billions dating back the days of the Soviet Union. It owes almost every nation it trades with. Yet Cuba’s economy is not showing any signs of breaking out of the stagnation it’s been experiencing. China has the second largest economy in the world (or 4th depending on the metric you use) and as everyone knows it has been experiencing significant growth over the last few years. I’m opposed to giving Cuba credit as long as the castro brothers are in power because I’m afraid it will be us, the US taxpayers that will end up subsidizing castro.
Well as Ziva noted in her latest post, Fontova confirms the endgame.