Watch "Reforming Cuba's ailing economy" Online

Title: Reforming Cuba's ailing economy

Released: 2009-02-14

Views: 196 times

Comments: 0

Favorited: 0 times

Run Time: 22 min.

Genres: Economy, Foreign, Politics, Society

Fidel Castro's favourite slogan was "Socialism or Death". Fifty years ago, Cubans embraced his socialist principles. But after almost two decades of economic hardship, an increasing number of Cubans, especially the young, no longer believe in the socialist dream their grandparents fought for. Castro's brother Raoul, who now leads the country, has embarked on a series of social and economic reforms that embody the principles of capitalism more than they do socialism. Among the reforms, the change in the agricultural sector and salary system have been the most ambitious. Raoul's new system gives Cubans who earn a typical salary of just $17 a month an incentive to work hard and make more money, allowing workers to earn performance bonuses. The concept itself is astonishing to generations who have been raised under the communist doctrine emphasising equality in all things, including wages. The hope is that the reforms will kick-start the ailing Cuban economy, but for many young Cubans, this is too little, too late. When the Soviet Union ended its financial support for Cuba in 1990, the shortcomings of Castro's socialist experiment were exposed, persuading many young Cubans to try to leave the country, risking everything to reach the shores of the world's most capitalist country, the US. Yosbel is one of many who have tried to leave. The young Cuban who supports his family by manufacturing mattresses at home has tried to escape to the US nine times, failing each time. Despite economic reforms, the unofficial exodus shows no sign of slowing, as people like Yosbel continue to try to leave for the US. Has Cuba's socialist experiment always been unpopular with its people, and will Yosbel ever make it to Florida? This summary has been brought to you by watch Documentaries online website, iwatchdocumentaries.eu.