Cuba Hopes for More Investment as Chinese President Arrives
Cuba Hopes for More Investment as Chinese President Arrives
China is not satisfied with the pace and depth of reforms in Cuba and won’t invest in the island just for ideological reasons, suggests AS/COA’s Christopher Sabatini.
(Reuters) - Chinese President Xi Jinping begins a two day visit to Cuba on Monday evening, stirring hopes on the island that China will finally invest in the country after a number of important deals never materialized.
Xi was to meet with President Raul Castro on Tuesday and then fly to Santiago de Cuba to see plans to improve port facilities and recovery efforts from Hurricane Sandy, which devastated Cuba's second city almost two years ago.
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Xi was in Brazil last week for a summit of the BRICS nations, which also includes Russia, India and South Africa. He then traveled to Argentina and Venezuela, signing a raft of multi-billion dollar credit and investment agreements, before stopping in Cuba on his way home....
"The Chinese are not satisfied with the pace and depth of reforms in Cuba," said Christopher Sabatini, senior director of policy at the Americas Society and Council of the Americas.
"This is ultimately a pragmatic government and it's not about to invest in Cuba for ideological reasons or even for geopolitical, long-term reasons if there isn't a profit or resource to be gained immediately...."
