Right, with a capitalist system they’d laugh in the face of the economic blockades.
US Embargo against Cuba would surely be a drag on even a 'regular capitalist economy' - but at they same time they'd do just fine with it. They can trade anything with any of the other 180 nations of the world. Most prosperous nations don't trade that-that much with the US.
And if they were open and fair, there'd be no embargo.
Stop defending this murderous regime there are no excuses for them.
The key to the embargo are two measures, the exclusion of Cuba from the global financial system, and the restriction on ships that docked in Cuba. Because of these, trade with Cuba from other countries is severely restricted.
It's the same situation as the Iranian embargo, just even worse. As you can see in Iran even in capitalist countries it causes untold economic disruption.
There would 1000% be a blockade even if Cuba became capitalist as long as it was opposed to US geopolitical interests. The US trades with endless murderous dictators and even traded with the USSR, the determining factor of the embargo is the Monroe doctrine, not anything else. Ever since 1776 Cuba has been struggling with escaping the American sphere of influence.
That is not true in this case, or even in general.
Canada trades with Cuba, but is not restricted from trading with the United States.
For example, you can freely purchase Cuban cigars in Canada.
Another example: the U.S. had an embargo against Iran for many years, but that didn't stop Siemens in Germany from selling them uranium centrifuges, nor did it result in a U.S. embargo against Germany.
Edit: here's a Canadian government site encouraging Canadian companies to do business with Cuba.
https://www.tradecommissioner.gc.ca/cuba/index.aspx?lang=eng
Siemens did not sell centrifuges to Iran when it was during the full embargo. It did so earlier. Even then, sales of this equipment to Iran are done with coordination with the EU that does the footwork to insure the companies and avoid sanctions.
The Canadian government will in effect compensate you for these secondary sanctions though.
Because you're the one making the claim. You claimed that you need "financial instruments" to "insulate" yourself. Do you have an example of this or not?
> It's well documented that the US has secondary sanctions on Cuba
1) That's about private lawsuits, not government sanctions, "secondary" or otherwise. 2) It only applies to people who directly traffic in confiscated U.S. property, not to generic trade with Cuba. 3) No one has ever successfully pressed a claim or collected any compensation under that statute.
The Helms-Burton Act has been the target of criticism from Canadian and European governments in particular, who object to what they say is the extraterritorial pretensions of a piece of legislation aimed at punishing non-U.S. corporations and non-U.S. investors who have economic interests in Cuba. In the House of Commons of Canada, Helms-Burton was mocked by the introduction of the Godfrey-Milliken Bill, which called for the return of property of United Empire Loyalists seized by the American government as a result of the American Revolution (the bill never became law).
I don’t know the exact mechanism but I believe our sanctions cause more than just a pain for American companies doing business with Cuba.
https://www.eversheds-sutherland.com/global/en/what/articles...