The US Embargo Against Cuba
The U.S. Embargo Against Cuba
Assessing Economic Performance
Renee Rodgers
The U.S. Embargo Against Cuba
The relations between the US and Cuba has just recently changed since the president 's State of the Union address. President Obama made the statement in December of last year that Americans can travel to Cuba and has plans to start opening trade and full embassies in both nations. Congress has stated mixed responses to lifting the embargo, with some from both parties—mostly with Cuban-American ties--insistent in opposition to the embargo being lifted. In more than 60 percent of Americans approve of Obama’s decision to rebuild diplomatic relations in recent polls (Adams & Bureau, 2015). What this essay will attempt to show, is the differences between our countries, how the embargo has affected theirs and our economy, and once the embargo is lifted completely, how both of our countries will have a better prospect for the future. By looking at the Gross Domestic Product, or GDP, this will show the overall spending and the spending per person or as per capita. This will help us look at the strength of the economy. The United States has a GDP per capita of $52,800 with a GDP of $16.72 trillion dollars, compared to Cuba 's GDP per capita of $10,200 with a GDP of $72.3 billion (CIA World Factbook). With the US population at over 300 million in comparison to over 11 million Cubans, there is still a substantial difference between our economies with the average American spending almost 5 times as much as the average Cuban (CIA World Factbook). In 2012 Cuba’s economy grew 3.1% and the US GDP of 1.6% in 2013(CIA World Factbook). According to the Cuban Government tourism has jumped up to 250,000 visitors in 2009, which was a big jump over the 170,000 visitors the year before (Lloyd, D). The legislation is being pushed by farm interests, including the U.S. Agriculture Coalition for Cuba. A study done in 2009 "estimated that doing away with
Assessing Economic Performance
Renee Rodgers
The U.S. Embargo Against Cuba
The relations between the US and Cuba has just recently changed since the president 's State of the Union address. President Obama made the statement in December of last year that Americans can travel to Cuba and has plans to start opening trade and full embassies in both nations. Congress has stated mixed responses to lifting the embargo, with some from both parties—mostly with Cuban-American ties--insistent in opposition to the embargo being lifted. In more than 60 percent of Americans approve of Obama’s decision to rebuild diplomatic relations in recent polls (Adams & Bureau, 2015). What this essay will attempt to show, is the differences between our countries, how the embargo has affected theirs and our economy, and once the embargo is lifted completely, how both of our countries will have a better prospect for the future. By looking at the Gross Domestic Product, or GDP, this will show the overall spending and the spending per person or as per capita. This will help us look at the strength of the economy. The United States has a GDP per capita of $52,800 with a GDP of $16.72 trillion dollars, compared to Cuba 's GDP per capita of $10,200 with a GDP of $72.3 billion (CIA World Factbook). With the US population at over 300 million in comparison to over 11 million Cubans, there is still a substantial difference between our economies with the average American spending almost 5 times as much as the average Cuban (CIA World Factbook). In 2012 Cuba’s economy grew 3.1% and the US GDP of 1.6% in 2013(CIA World Factbook). According to the Cuban Government tourism has jumped up to 250,000 visitors in 2009, which was a big jump over the 170,000 visitors the year before (Lloyd, D). The legislation is being pushed by farm interests, including the U.S. Agriculture Coalition for Cuba. A study done in 2009 "estimated that doing away with
References: Adams, C., & Bureau, M. W. (2015, Febuary). U.S. senators introduce bill to lift embargo, open trade with Cuba. Miami Herald, 9855359(), Retrieved from http://www.miamiherald.com/news/nation-world/world/americas/cuba/article9855359.html Adams, C., & Bureau, M. W. (2015, Febuary). U.S. senators introduce bill to lift embargo, open trade with Cuba. Miami Herald, 9855359(), Retrieved from http://www.miamiherald.com/news/nation-world/world/americas/cuba/article9855359.html Cuba Economy 2014. (2014, January 28,). CIA - The World Factbook. from http://www.workmall.com/world_fact_book_2014/cuba/cuba_economy.html Lloyd, D. (2011, February 15). Ten Reasons to Lift the Cuba Embargo. Politics News and Opinion on The Huffington Post. from http://www.politicsdaily.com/2010/08/24/ten-reasons-to-lift-the-cuba-embargo/ North America: United States. (2014, June 20,). CIA - The World Factbook., from http://www.theodora.com/wfbcurrent/united_states/united_states_economy.html