Friday, December 19, 2014

What would happen if conventional antitrust acts were applied globally, on an inter-country level, on countries such as Cuba and the USA

When seen from the perspective of antitrust law, the decades-old US embargo on Cuba - America's tiny neighbour - starts to look criminal. In the case of companies, if a monopoly or a near-monopoly engages in practices that are anti-competitive and unfair, antitrust laws attempt to stop and punish the aggressor in order to restore fair competition in the market. Applying this to countries, in the case of Cuba, a powerful neighbour abused its dominant position and, by way of embargo/sanctions, brought misery to the lives of Cubans for several decades. Located in close proximity to the USA, Cuba's fate depended and depends on its much-larger neighbour, a fact the larger neighbour exploited neatly.

Perhaps some day the world will start to question practices such as the one utilized by the USA against Cuba, and perhaps some day there will be mechanisms in place to stop the bullying of smaller nations by larger nations.

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