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The Taiwan Semiconductor Manufacturing Company’s Fab 20, which specializes in the production of 2-nanometer advanced chips, in Hsinchu, Taiwan, on March 28, 2026. (Getty Images)
Despite economic reforms and anti-corruption initiatives pursued by Fidel Castro’s successors, the kleptocracy established in the country’s 1959 communist revolution persists. Front companies controlled by the military and security services continue to dominate the Cuban economy. Although the regime blames US sanctions for the island’s ongoing economic and humanitarian crisis, recent reporting suggests that these regime-connected entities have illicitly hoarded billions of dollars.
While the secretive nature of Cuba’s regime means that the inner workings of its kleptocracy are not widely understood, the costs of corruption are fully apparent to Cuba’s population. Nationwide protests in recent years suggest that the regime’s kleptocracy, once a tool for entrenching its power, now undermines its legitimacy and has become a major vulnerability.
As the Trump administration indicates a “tough” new approach toward Havana, join Hudson for an expert discussion on how kleptocracy operates in Cuba and its implications for American policy.
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A sign is displayed at the Office of the Comptroller of the Currency (OCC) headquarters on June 1, 2025, in Washington, DC. (Getty Images)
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A man walks past an electronic board displaying the movement of 10-year government bonds in Tokyo on December 22, 2025. (Getty Images)
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(Screenshot via YouTube)
