Summary of Open for Business

Building the New Cuban Economy

Brookings Institution Press, more...

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Open for Business book summary
What does Cuba’s mix of promise and uncertainty portend for its fate now that the embargo is over?

Rating

8 Overall

8 Applicability

8 Innovation

8 Style

Recommendation

US airlines, cruise lines and hoteliers now can do business across the Florida Straits in Cuba. They shouldn’t expect easy profits, argues Brookings Institution fellow Richard E. Feinberg in this clear-eyed look at the opportunities and challenges that Cuba poses. The Cuban government is notoriously difficult to work with and slow to make decisions. Wage controls mean that Cuban workers may resist the usual motivations. Feinberg doesn’t offer advice for navigating Cuban commerce, but he provides useful insight into the advantages and disadvantages of investing there. getAbstract recommends Feinberg’s study to investors, entrepreneurs, consultants and established firms considering doing business in and with Cuba.

In this summary, you will learn

  • How foreign investors fared in joint ventures with the Cuban government
  • What risks come with doing business with Cuba
  • What three potential future paths might define Cuba’s economy
 

Summary

Embargo
In the 1950s, US companies provided electricity and financial services to Cuba and owned property there. Tourists came to Havana by plane or boat, and prominent Americans embraced Cuba. Ernest Hemingway lived there. John F. Kennedy and Frank Sinatra visited. American mob bosses...
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About the Author

Former special assistant to President Bill Clinton Richard E. Feinberg is a nonresident senior fellow in the Latin America Initiative at The Brookings Institution and a professor at the University of California-San Diego.


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