Cubans awoke on Friday for the first time in half a century with the right to buy new and used vehicles from the state without special permission, but price markups of 400 percent or more quickly dashed most people's expectations. A new Kia Rio hatchback that starts at $13,600 in the United States sells for $42,000 in Havana, while a fresh-off-the-lot Peugeot 508 family car, the most luxurious of which lists for the equivalent of about $53,000 in the U.K., will set one back a cool $262,000.

Have I been wrong all along? Some critics suggest my newspaper columns since 1995 on the politics and economics of the Mainland have been — oh — overly sympathetic toward China. I just don’t know. But no one can afford to be complacent. And so the worry popped up again, for several reasons.

The time seemed right to most observers, the place not entirely thought out. Why would the sitting, though troubled, prime minister of a country visit another sitting, but less troubled, premier of another country at a city other than the capital?

Pass through the gates of the Bombardier plant in Querétaro and you leave the Mexico of potholed roads and blaring horns behind: welcome to a strangely serene place called North America. In the car park neat lines of vehicles all face the same way—almost unthinkable elsewhere in Mexico.

While 2013 [was] an incredibly interesting year for Brazil, 2014 promises to be even more fascinating. Beyond the World Cup, which promises to occupy much of the year's headlines, here are some of the big issues to watch.

China is preparing to surpass the United States as the world’s largest economy, in purchasing power parity terms. Already its economy is 80% the size of ours, and if current growth rate differentials persist, it will take China only about four more years to surpass us. At market exchange rates, China’s GDP is smaller, and is expected to remain less than ours until 2028. This is hardly surprising.

Today marks the 20th anniversary of the North American Free Trade Agreement (NAFTA), a free trade agreement between the United States, Canada, and Mexico that has created a $19 trillion market with 460 million consumers. It isn’t merely the size of NAFTA that makes it remarkable but also the fact that it was the first U.S. trade agreement that included both developed and developing countries.

The European Union has probably never experienced anything like it before: Ukrainian President Viktor Yanukovych’s government pretended to negotiate an association agreement, only to back out at the last minute. EU leaders felt duped; in Moscow, however, the mood was celebratory.