Cuba and Jamaica

[Rafiq]

Which country has higher living standards, and the best economy?

Thanks, Rafiq

[Tommy4ever]

Well, I think this one statistc might be the most telling on who their economies are like:

% of Jamaicans below poverty line - 14.8
% of Cubans below poverty line - 1 (ie neglible)

But I'll go into some more detail.

GDP growth in recent years has been consistently higher in Cuba (with a trend growth rate being at the very least 2% higher in Cuba).

GDP per capita in Jamaica is 4,100 US$ and in Cuba it is 9,700 US$.

Unemployment is Cuba is 1.7%, in Jamaica it is 14.5%.

Cuba's national debt is pretty low at 34.6% of GDP (that would be regarded as a prudent level of debt)whilst Jamaica's is worryingly high at 131.7% of GDP. To see how bad a level of debt that is - Greek national debt is actually about 5% less than that :o.

So there is no real question over which economy is the stronger or the fairer. I haven't been able to find an 'income equality' graph but needless to say Cuba is more equal than Jamaica and has some really great public services in its healthcare (almost first world standard) and education. However, I did find a very interesting graph of GDP growth since 1950 in a few Carribbean countries:

http://upload.wikimedia.org/wikipedia/commons/thumb/8/8b/Rent-Cuba-Carib.png/800px-Rent-Cuba-Carib.png (http://upload.wikimedia.org/wikipedia/commons/8/8b/Rent-Cuba-Carib.png)

As you can see, after the Revolution and the assistance from the USSR started coming it the Cuban economy experienced some quite explosive growth and rose to much higher levels than any of its regional counterparts. Then the Soviet Union collapsed and Cuba's old economic model with it (that model being selling sugar to the Soviets had above market prices) - the economy shrank by over a 1/3 :o. Since then, somehow, Cuba has got itself back on track and has been having some of the best growth in the entire region despite its isolation. This graph only goes up to 2005 and we know that GDP has now reached has continued to rise since then. This graph seems to use a different measure of GDP per capita than the stats I mentioned earlier (got those from wikipedia which usually gets its from the CIA Factbook), but on this measure GDP per capita currently stands at $3,100.

All in all, he Cuban economy is pretty impressive.

[The Red Next Door]

Jamaca is capitalist and a lot of there people, live in proverty

[Dragovich]

You need links from non-biased sources to back that up instead of spewing bullshit.

Both countries are dirt poor.

[Tommy4ever]

You need links from non-biased sources to back that up instead of spewing bullshit.

Both countries are dirt poor.

Well, I assume this is directed at me. :(

Here's a few links if you want to search for some figures yourself:

http://en.wikipedia.org/wiki/Cuban_economy
http://en.wikipedia.org/wiki/Jamaican_economy
http://www.tradingeconomics.com/
https://www.cia.gov/library/publications/the-world-factbook/geos/cu.html
https://www.cia.gov/library/publications/the-world-factbook/geos/jm.html

I'm not sure what other sources you want me to use. I realise wikipedia isn't always 100% accurate but the CIA Factbook and tradingeconomics.com are much more reliable. Are my websites not leftist enough? :p

[Dragovich]

Look, I'm sorry for going at you like that. I just hate it that some people don't bother to list sources from objective websites and instead go on hyberbole.

Thanks. Though you had the courage to do a little homework. :)

[RadioRaheem84]

objective? :rolleyes:

[RedMarxist]

there dirt poor because they are Caribbean nations no doubt. Nice chart, really puts things into perspective.

[RedMarxist]

a good website is http://www.iammyownreporter.com/ and it supposes "facts" about Cuban life/culture/economy. It seems pretty trustworthy though, or at least I think so.

some good, helpful links in that person's website:

http://www.iammyownreporter.com/misconceptions.htm

http://www.iammyownreporter.com/law.htm

http://www.iammyownreporter.com/page1.htm