Cuba Approves Major Economic Reforms Inspired by China and Vietnam

Earlier this week, Cuba's President Miguel Díaz-Canel formed an advisory committee on economic reform that included three well-known economists — Omar Everleny Pérez Villanueva, Juan Triana Cordoví and Julio Carranza — who have spent years publicly criticizing official policy, according to EFE.

Cuba’s National Assembly approved on Thursday a package of economic reforms to decentralize the economy, expand opportunities for private enterprise and encourage investment from Cubans living abroad. Díaz-Canel indicated the changes were inspired by the experiences of China and Vietnam, where market-oriented reforms were introduced while maintaining socialist political systems.