Cuba...now? what changed? Venezuala, and Cuban laws for foreign investment

[HereSince1628]

Let me say at the outset...

It's terrific if this works out well for the Cuban people, and Cuban workers in particular. I have not been a fan of the embargo on Cuba. It's maintenance seems mostly a matter of embitterment, supposedly a signal to other nations that nationalization of American investments will be punished.

But. I am not so wet behind the ears as to believe this was only done to end that embitterment. I suggest that following the money remains a useful tool for understanding this action.

Cuba's growing trade deficits demand domestic development. It's having trouble surviving. Reliance on Venezuala as its major trading partner is now untenable.

To get money Cuba changed it's laws governing foreign investment just months ago.

The new rules to attract foreign money include an 8 year exemption on taxes on profits, eliminates the tax on labor costs (which helped pay for worker social safety nets) and allows 100 percent foreign ownership.

http://www.worldpoliticsreview.com/articles/13671/cuba-s-new-foreign-investment-law-is-a-bet-on-the-future#

The US investment industry clearly wants a piece of that, and the US investment industry is pretty close to the American administration. Does it surprise anyone that a policy that is good for the investment industry would be acted on?

[global1]

1. If That Be The Case Wouldn't You Think The Repubs Would Support This As Well Or....

is it just because Obama thought of it first that they'll line up against this?

[HereSince1628]

2. The GOP default position is opposition to Obama... but let's watch what happens

If I'm right, the R's, wanting support of the investment industry, will in the end not make much of this.

Following the interest of money is always a good idea, particularly when the money belongs to one of the controlling interests in a political party. The connection of the Dem right and Wall St is undeniable.

But, I suspect there was sufficient anxiety about the GOP and public reaction to prevent the Cuba move from happening prior to the elections in Nov.

[blm]

3. What changed? John Kerry became Sec of State.

http://www.democraticunderground.com/10025976446

Not that the corporate media wants you to understand the truth as they were busy yesterday and today exaggerating the importance of one sentence HRC wrote in her book - a book written well after Kerry's efforts on Cuba had already begun.

[liberal_at_heart]

4. "The new rules to attract foreign money include an 8 year exemption on taxes on profits, eliminates

eliminates the tax on labor costs (which helped pay for worker social safety nets) and allows 100 percent foreign ownership."

That sums it up right there. Damn capitalist pigs.

[raouldukelives]

5. Doh. It figures. nt