Bolivia is a landlocked country in Latin America, whose economic and cultural centers are located in remote, mountainous regions. This geography has posed challenges for economic exchanges for hundreds of years, and Bolivia is one of the poorest, least developed countries in South America. Bolivia’s stagnation in industrialization can in part be explained by the geography hypothesis delineated by Armendáriz and Larraín (2017), which postulates that forces of nature are a root cause of national poverty.
Cuba asegura que el embargo de Estados Unidos le ha costado alrededor de $116.000 millones (USD) a la isla desde que se estableció, en 1962. En una declaración realizada el nueve de septiembre en la ONU, la nación caribeña añadió que sólo en el último año el embargo le reportó pérdidas por $3.900 millones (USD). El viceministro de relaciones exteriores, Abelardo Moreno, aseguró que en promedio Cuba pierde $2.000 millones anuales (USD) como consecuencia de las restricciones de viajes entre los dos países.1
Ever since May 1st, 2006, Bolivia has been profiting from the nationalization of the gas industry. Before 2006, the gas industry was controlled by the private companies drilling in Bolivia, and they were receiving 71% of the profit which amounted to USD 832 million.
On Sunday October 12th, Bolivia held their national elections for the legislature and the presidency. In a landslide victory, incumbent Evo Morales of the Movement for Socialism Party won his third consecutive election with 59 percent of the vote. The strongest opposition to Morales was Samuel Doria of the Democratic Union who received approximately 30 percent of the vote.
This October Dilma Rousseff was re-elected as Brazil’s president by the slimmest of margins. With approximately 51.4 percent of the vote she beat competitor Aécio Neves of the Social Democracy party (PSDB) who received about 48.5 percent.1 The election reveals Brazil’s clear divide amongst the population with regard to the direction of the country as evidenced by her victory speech in which she admitted that she wants to be “a much better president than I have been until now.”2
The surprise opening to Cuba will not necessarily have dramatic effects on either country, though there will be tangible and intangible changes for both.1 For Cuba, the opening brings the prospect for a strong influx of dollars and tourists. The diplomatic opening does not allow unfettered travel, but it reduces the barriers significantly. Pitt's Study Abroad program to Cuba had to be canceled last year due to banking restrictions. That type of problem will surely disappear. Perhaps, shadowing the new policy with regards to undocumented immigrants, Ob
Following more than five decades of fluctuating economic strategies, Cuba's Socialist Economy Today: Navigating Challenges and Change by Paolo Spadoni, and assistant professor of political science at Georgia Regents University, analyzes how Raúl Castro's maintenance of the "pragmatic cycle" has affected the living conditions and the economic power of the island nation.
Oil prices are rapidly falling, thus Venezuelan President Nicolas Maduro decided to make an important trip this past Monday. He announced in a public address on Sunday evening, “I leave on a very important trip to deal with new projects… and the decline in revenues that are the product of the sharp decline in oil prices.”1 First stop, Russia.
The suitability of the word, “rapprochement,” remains to be seen. U.S. foreign policy towards Cuba took a major swing in December with the proposed resumption of diplomatic relations for the first time in 54 years. In January, Assistant Secretary of State for Western Hemisphere Affairs, Roberta Jacobson, became the highest-ranking U.S. government official to visit the island in 35 years. But despite this improvement and those forthcoming, the events of the past month mean seemingly little—the embargo remains in place, as does one-party rule in Cuba.
El proceso de cambio en Bolivia ha impulsado una política de desarrollo alternativo y resistente al capitalismo que funciona en el mercado mundial. Sin embargo, la implementación de este modelo económico, a casi diez años de su inicio, está generando un crecimiento significativo de una nueva élite burguesa que proviene de las clases comerciantes populares de este país.