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Cuba post-1902 economic challenges, : - Coggle Diagram
Cuba post-1902 economic challenges
Cuban-American Reciprocity Treaty 1903
Cuban sugar preferable in US market
Reduce duties on US imports
Forced Cuba to buy US goods
US investing much in Cuban industries
Increase sugar production
Industries recovered quickly due to US involvement
Cuban currency made interchangeable with US dollar
Impact of WW1
Increase in demand for cuban Sugar
Demand for land
Peasants evicated from land after purchase
Forests were cut down to make space for plantations and mills
Technological developments to provide more sugar
Mario Garcia Menocal
Founded the national bank and issued national currency
Economic crisis
Record profits for US companies
Prices dropped rapidly
Bankruptcy for cuban owners of sugar mills
Banks ran out of money
National bank closed
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