President
Barack Obama announced
Wednesday that the U.S. and Cuba will now reestablish diplomatic ties and
reopen embassies in their respective capitals. The announcement comes just one
month after the Secretary of State removed Cuba from the State Sponsor of Terrorism list. Although it would take an act of
Congress to lift the trade embargo, reopening embassies is another brick in the
foundation of normalizing trade relations. With the new embassies opening in July,
there will be greater
contact between the US and the Cuban people which will ultimately lead to a
change in the US’s attitude towards the trade embargo.
A new US embassy is not the only thing coming to Cuba in July. Cuba’s state-run
telecommunications company is planning on opening a network of Wi-Fi
hotspots that spans the entire island. They also plan on cutting the price of
hourly access in half to $2. However, even though costs are less and there will
be more Wi-Fi hotspots, the internet may still not be that accessible to the
Cuban people. That being said, the world’s
largest tech companies are looking towards Cuba as a new telecommunication
investment opportunity.
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