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Is Raúl Castro planning on transforming Cuba into a market economy?

Fidel Castro recently made headlines by bluntly admitting to the American journalist Jeffrey Goldberg that, “the Cuban model doesn’t even work for us anymore.” This has prompted speculation about whether his brother Raúl’s tentative steps to increase the role of the private sector in Cuba are the start of a plan to transform the Caribbean island into a market economy. Indeed, Fidel’s brother Raúl has allowed small-scale private firms to be set up in some…

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