Francisco Industries, Inc. (FRAZ)

[deet49]

Read the newly proposed Cuban constitution https://www.local10.com/news/cuba/cubans-get-to-read-the-newly-proposed-constitution

copy of the 32-page document https://media.local10.com/document_dev/2018/07/31/Cuban%20constitution_12439643_ver1.0.pdf

While reaffirming the overriding principles of a "socialist" economy and central economic planning, the proposed new charter gives formal juridical recognition to the "the role of the market", and "private property" as one of a range of types of property existing in the Cuban economy.

The "market" and "private ownership" are both key elements of Western capitalism which were long pilloried as corrupting generators of inequality by Cuba's Communist Party rulers.

So the changes reflect the realities of Cuba's own experience, which saw the island forced to open itself up more to foreign tourism and investment after the disappearance of its Soviet benefactor, including allowing of private self-employed economic activities and enterprises for which more than half a million Cubans currently have licences.

Observers saw the constitutional tweaks moving Cuba in the direction of - but still far from close to - the types of "market socialism" currently practised by political allies like China and Vietnam.

https://www.bbc.co.uk/news/world-latin-america-44971445

** Nb both China and Vietnam have made settlements with the US government https://www.justice.gov/fcsc/completed-programs-vietnam