Magazine article Foreign Affairs

Recent Books: Western Hemisphere: Open for Business: Building the New Cuban Economy

Magazine article Foreign Affairs

Recent Books: Western Hemisphere: Open for Business: Building the New Cuban Economy

Article excerpt

Recent Books: Western Hemisphere: Open for Business: Building the New Cuban Economy BY RICHARD E. FEINBERG. Brookings Institution Press, 2016, 264 pp.

The dramatic resumption of U.S.-Cuban relations has focused attention on the economic and political outlook of the Caribbean island. Although the longstanding U.S. embargo of Cuba remains in effect and can be lifted only by Congress, restrictions on U.S. companies doing business in Cuba are clearly easing. The political backlash in the United States has been notably muted; Cuba is less and less of an issue, even among Cuban Americans. The question, however, is whether, even after the rapprochement with Washington, Cuba is prepared to open up its economy and politics. Feinberg offers a scrupulously researched and judicious analysis of the economic changes that have unfolded since 2008, when Raúl Castro replaced his brother Fidel as president and initiated a reform process. …

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