In a historic shift, Cuba has approved a series of sweeping free-market reforms aimed at liberalizing its economy and attracting foreign investment. These changes, seen as the most significant since the revolution, come in response to mounting economic challenges and pressure from the United States. The reforms, endorsed by the Cuban Communist Party, include plans to privatize state-owned companies and open various sectors, such as banking and energy, to private capital and foreign investment. While many Cubans greet the reforms with a mix of hope and skepticism, doubts remain about their effectiveness and timing. Experts suggest that the island is attempting to adopt a model similar to China’s as it seeks to stave off economic collapse.