How did wealthy Cuba become a poor country? | The cost of the state
When Christopher Columbus first set foot on the shores of Cuba, he described the island as “the most beautiful land ever seen by human eyes.” In reality, this status of a tropical paradise eventually transformed Cuba into a center of economic influence. By the 1920s, its powerful sugar industry was bringing in billions of dollars. By the late 1950s, despite a population of only 6.5 million, it ranked 29th in the world in terms of largest economies. Its GDP per capita exceeded that of Ireland and Australia and was twice as much as that of Spain and Japan. But something went wrong. Watch our video to find out.
Original - • The Shocking Truth About How Cuba Bec...
Author - @CasualScholar
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#economics #Cuba #socialism
