DePalma focuses on a narrow slice of Havana and a number of its families, creating an excellent read about the lives of “ordinary” citizens.
Latin American governments beset by fiscal, economic and social crises will be tempted to accept bailouts and loan-based projects disproportionately benefitting Chinese companies that they would not have previously considered. The resurgence of the Latin American political left, already seen in Argentina and Bolivia, and the entrenchment of the Maduro regime in Venezuela, possibly bolstered by leftist victories in elections in Ecuador in February and Peru in April 2021, will further broaden China’s opportunities.
The US can reverse its resistance to an SDR allocation, provide new bilateral financing, and comprehensive debt relief through pressure on the private sector that is linked to climate and development outcomes. Such action would put the world economy on a better path, restore US standing in the multilateral realm, and give the US the legitimacy to criticize others less willing to lead.
