Among Fidel Castro's top lieutenants, none is more outspoken than Che Guevara, the Argentine Marxist who now serves as Cuba's Minister of Industry. Che, in fact, is so painfully frank that Castro has several times told him to soften his speeches. But Che keeps on talking. "We don't make little white ponies here," he says. "We've got little white elephants in Cuba." On Havana TV last week, in a remarkable confession of economic failure, Che paraded the elephants in full view.
There was last year's 3,800,000-ton sugar-cane crop—the lowest in modern Cuban history. The ministry's industrial investment plan for last year,...
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