The article I picked is entitled “Cuba attracts $1.9 billion in foreign investment despite U.S. sanctions”. The article provides details of how Cuba increased its foreign investment compared to last year despite ongoing sanctions from the United States and the Trump Administration. Cuba was able to attract 34 new foreign investments this year despite the “economic war” it’s going through with America sanctioning oil shipments and cash remittances to the island. I find it remarkable that Cuba was able to increase foreign investment to its island while dealing with American sanctions as well as a global pandemic.
Latin American and Caribbean nations history of dependency and exploitation at the hands of more developed nations is a reason why this article caught my attention. The history of many Latin American regions has been one of dependency on foreign investment to develop their countries. Cuba requires a Cuban stakeholder in order for any foreign investor to be involved in any projects “regarding extraction of natural resources”. This helps to ensure that the islands natural resources will not be exploited by foreign investors. Although this still exhibits “how the legacies of colonialism and dependent capitalism remain persistent in shaping the region” (Problems, 315). This remains true for many Latin American and Caribbean nations, they are forced to rely on foreign investment in many ways such as exporting, extraction of natural resources, migrant workers, and tourism dollars. Although, with all of the strains on the Cuban economy I’m amazed at their ability to move forward.
https://www.nbcnews.com/news/latino/cuba-attracts-1-9-billion-foreign-investment-despite-u-s-n1250546