Cuba and China at the crossroads

SPEAKER: Dr. Adrian H. Hearn, Department of Sociology and Social Policy, University of Sydney

DISCUSSANT: Dr. Pitou van Dijck, CEDLA

DATE: 13 September 2013

ACTIVITY: CEDLA LECTURE

The rise of China, together with the global financial crisis, has prompted policymakers and economic advisers to reconsider the ideal balance between government intervention and market forces in global affairs. It has become evident that the state—particularly in developing countries—is once again assuming a more assertive role in economic management. At the same time, Cuba’s state-led economy is undergoing reforms aimed at fostering private entrepreneurship.

China’s influence on Cuba’s reform process is considerable, extending from investment in the energy sector to financing for small businesses and the provision of wholesale supplies for emerging industries. This presentation explores how Cuba, with China’s support, is crafting a new and more effective model for blending state and market mechanisms to drive economic development.