August 27, 2010

HOW'D THAT REVOLUTION WORK OUT FOR YOU?:

Cuba embraces 2 surprising free-market reforms (Will Weissert, Associated Press)

Cuba has issued a pair of surprising free-market decrees, allowing foreign investors to lease government land for up to 99 years — potentially touching off a golf-course building boom — and loosening state controls on commerce to let islanders grow and sell their own fruit and vegetables.

The moves, published into law in the Official Gazette on Thursday and Friday and effective immediately, are significant steps as President Raul Castro promises to scale back the communist state's control of the economy while attempting to generate new revenue for a government short on cash.

Posted by Orrin Judd at August 27, 2010 4:53 PM
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