Lifting Restrictions Won't Help Cuba Much

The announcement this week that the U.S. will normalize diplomatic relations with Cuba and allow trade with and travel to the communist Caribbean nation is hardly the economic windfall for Cubans that some commentators make it out to be. If the Obama administration succeeds in lifting current trade restrictions, Cuba will certainly benefit from being able to sell into the enormous market just to its north. But exactly how much it will benefit from increased trade is unclear.