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Austerity: Special Period

Austerity: Special Period


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About the Book

Purchase includes free access to book updates online and a free trial membership in the publisher's book club where you can select from more than a million books without charge. Excerpt: The Special Period in Time of Peace in Cuba was an extended period of economic crisis that began in 1991 after the collapse of the Soviet Union and, by extension, the Comecon. The economic depression of the Special Period was at its most severe in the early-to-mid 1990s before slightly declining in severity towards the end of the decade. It was defined primarily by the severe shortages of hydrocarbon energy resources in the form of gasoline, diesel, and other petroleum derivatives that occurred upon the implosion of economic agreements between the petroleum-rich Soviet Union and Cuba. The period radically transformed Cuban society and the economy, as it necessitated the successful introduction of sustainable agriculture, decreased use of automobiles, and overhauled industry, health, and diet countrywide. People were forced to live without many goods they had become used to. The collapse of the Soviet Union hit the Cuban economy severely. The country lost approximately 80% of its imports, 80% of its exports and its Gross Domestic Product dropped by 34 percent. Food and medicine imports stopped or severely slowed. The largest immediate impact was the loss of nearly all of the petroleum imports by the USSR; Cuba's oil imports dropped to 10% of pre-1990 amounts. Before this, Cuba had been re-exporting any Soviet petroleum it did not consume to other nations for profit, meaning that petroleum had been Cuba's second largest export product before 1990. Once the restored Russian Federation emerged from the former Soviet Union, its administration immediately made clear that it had no intention of delivering petroleum at the price that had been guaranteed the island by the USSR; in response to this notification, Fidel Castro's government cut off all p... More: http://booksllc.net/?id=2610779


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Product Details
  • ISBN-13: 9781156317723
  • Publisher: Books LLC
  • Publisher Imprint: Books LLC
  • Height: 152 mm
  • No of Pages: 38
  • Spine Width: 2 mm
  • Weight: 68 gr
  • ISBN-10: 115631772X
  • Publisher Date: 31 May 2010
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Sub Title: Special Period
  • Width: 229 mm


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