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China's Xi eyes increased investment in Cuba

Chinese President Xi Jinping meets his Cuban counterpart Raul Castro at the Revolution Palace in Havana, on July 22, 2014, in this photo from the Cuban official website www.cubadebate.cuChinese President Xi Jinping met his Cuban counterpart Raul Castro in a visit to expand investment in the fellow communist nation, his last stop on a four-country Latin American charm offensive. Cuba, the only one-party communist state in the Americas, began opening up its economy in 2008, but has not grown as much as hoped and could desperately use more Chinese investment. Xi for his part has made a point during his tour of reaching out to countries often shunned by US and European investors, including Venezuela and Argentina as well as Cuba. The opening of the Cuban economy — which some analysts see as an effort to follow in China’s footsteps — has created new opportunities to tighten bilateral ties, said Xi, who arrived Monday night in Havana.

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