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Daniel Spector's avatar

Good point about the $148 billion embargo price tag. But I think it’s true that the embargo has had a dollar cost, not only in the loss of potential foreign investment, but also in higher social costs: if the country cannot buy necessities internationally (e.g., vaccines, masks, and oxygen equipment during the pandemic), then it has to allocate resources to meet those needs.

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Kevin Tyson's avatar

I would like to see the embargo ended immediately. US foreign policy should follow George Washington’s prescription of friendly relations with all and entangling alliances with none. Doing so would leave each American free to choose with whom they wish to do business.

That being said, from the Cuban Ministry of Foreign Investment https://inviertaencuba.mincex.gob.cu/en/faq/ I found a spreadsheet that lists 728 active foreign investment programs from countries such as Spain, Canada, Mexico, China, and Russia. This leads me to question how the dollar value of the embargo cost is calculated. Something is going on here that the numbers do not make apparent.

But my biggest fear is that lifting the embargo would, in very short order, turn the entire Cuban economy into wholly-owned subsidiaries of a handful of multinational corporations, leaving the Cuban people with 401Ks and no means of expressing their consent to be governed.

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