Cuba’s apartheid Castro dictatorship is not only known for its brutal repression, murder, and corruption, but it is also known as a notorious deadbeat regime. Virtually every country and entity that has extended credit to the Cuban dictatorship has gotten stiffed.
China is just the latest country to fall victim to the Castro moochers, who demand credit in exchange for access to the island and then default on the loans. With the Castro regime defaulting on their payments, the Chinese government has been left with no other option other than to begin cutting exports to Cuba in order to minimize their losses.
Keep this episode and the countless others over the last six decades of the Castro regime regularly defaulting on its debt whenever you hear the calls for the U.S. to end the embargo and engage in business with the Cuban dictatorship. The Castros want U.S. sanctions lifted not so they can access U.S. goods, but so they can access U.S. credit. Credit they fully intend to max out and never repay. Massive debt for which you and I, as taxpayers, will end up having to foot the bill.
China Begins Cutting Off Exports to Cuba over Lack of Payment
China has begun cutting off key exports to Cuba after the communist-run island failed to deliver a series of payments, official statistics reveal.
According to latest figures, Chinese exports to Cuba have dropped by 29.8 percent to around $1 billion in 2017, a fall from the $1.8 billion dollars in 2016 and the $1.9 billion the year before.
The figure presents further problems for the island’s stagnating economy, with Chinese commercial office in Havana confirming the decline was due to Cuba defaulting on a serious of payments.
Among the items Cuba is suffering major shortages of is toilet paper. State media this week revealed mass shortages in the capital of Havana due to lack of domestic production, forcing the Castro regime to turn to Vietnam for this basic necessity.
China remains Cuba’s largest trading partner in terms of goods and recently agreed to expand economic ties through a series of commercial agreements, which included the donation of $1 million to Hurricane Irma relief and a further $12 million “in supplies, including generators, water pumps, purifiers, folding beds and other resources.”
The two communist countries also share extremely close diplomatic ties together, with China providing the country with numerous grants, loans, and bailouts to the sum of billions of dollars.
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