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Monday, April 29, 2024
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Global Economy

 * I.M.F. Outlook
 * Inflation in U.K. Slows
 * China’s Strong Growth
 * Why Germany Can’t Quit China
 * A Confusing Moment in the U.S.

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IN A COMMUNIST STRONGHOLD, CAPITALISTS BECOME AN ECONOMIC LIFELINE

Cuba’s Communist revolution took aim at private businesses, making them largely
illegal. Today, they are proliferating, while the socialist economy craters.

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La Carreta, a landmark Havana restaurant once owned by the government, has been
reopened as a private business by two recent partners, a Cuban American and a
local businessman.Credit...Eliana Aponte for The New York Times

By David C. Adams

David C. Adams visited more than a dozen private businesses in Havana to
document the growth of the private sector.

April 29, 2024Updated 8:30 a.m. ET
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A modern grocery store whose shelves are packed with everything from pasta to
wine fills a spot in central Havana once occupied by a drab state-owned flower
shop, its ceilings and walls repaired and repainted.

A former state glass company in a Havana suburb now houses a showroom for a
private business selling Cuban-made furniture.

And at the Cuban capital’s port, forklifts carefully unload American eggs from a
refrigerated container. The eggs are bound for an online private supermarket
that, much like Amazon Fresh, provides home delivery.

These ventures are part of an explosion of thousands of private businesses that
have opened in recent years across Cuba, a remarkable shift in a country where
such enterprises have not been permitted and where Fidel Castro rose to power
leading a communist revolution determined to eliminate capitalist notions like
private ownership.



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But today Cuba is confronting its worst financial crisis in decades, driven by
government inefficiency and mismanagement and a decades-long U.S. economic
embargo that has led to a collapse in domestic production, rising inflation,
constant power outages and shortages of fuel, meat and other necessities.

So the island’s communist leaders are turning back the clock and embracing
private entrepreneurs, a class of people they once vilified as “filthy”
capitalists.

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