Kirk, John M.
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It is essential for any potential entrepreneur to be at least superficially aware of Cuba's history. When the U.S.S.R. collapsed, the impact on Cuba was disastrous: 85% of Havana's trade had been with the socialist bloc, and it dried up in a few months. Trade with Russia declined 92% between 1989 and 1993. In 1994, Cuba had only 1/3 of the purchasing power to buy badly needed imports than it had in 1989. To prepare for further investment, Decree Law 50 was replaced in 1995 by new investment legislation that seeks to streamline the investment process and assuage some of the concerns regarding 3rd-party claims from US and Canadian companies.
Kirk, John M., and Julia Sagebien. 1996. "Historical framework." Business Quarterly 60(3): 40.