Cuba faces major changes as its economy further deteriorates and age takes its toll on Fidel and Raul Castro. The nation’s move to a market footing may begin with small steps that lead to demands for greater economic liberalization and political concessions.

Roy C. Smith is the Kenneth Langone Professor of Finance Emeritus at New York University Stern School of Business.
Ingo Walter is professor of finance in the Stern School of Business at New York University.
Defense and Foreign Policy
Other Independent Review articles by Roy C. Smith
Winter 2019/20 Will Populism Kill Globalization?
Summer 2018 China’s Next Ten Years
Fall 2016 Is China the Next Japan?
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Other Independent Review articles by Ingo Walter
Summer 2006 Four Years After Enron: Assessing the Financial-Market Regulatory Cleanup