Political and Social Turmoil in Venezuela - 1475 Words

Venezuela officially called the Bolivarian Republic of Venezuela is a country on the northern coast of South America. It is known widely for its petroleum industry but it is now its roughest situations of all times. Milton Friedman once said that, if you put the government in charge of the Sahara desert, there’ll eventually be a shortage of sand. No wonder that, after 14 years of socialist government, Venezuela the country with the world’s largest oil reserves is currently importing gasoline. This fact highlights Venezuela’s agonizing dive into chaos as the economy crumbles and the nation’s social fabric unravels. Venezuela is now witnessing its largest protests in a decade. President Nicolas Maduro who is a affiliate and follows the socialist norms took power almost a year ago and has cracked down on demonstrations with unprecedented force, using the National Guard and armed paramilitary gangs. There is a considerable portion of the population that is fed up with the country’s rapidly weakening financial system. The government has run out of cash and now relies on printing money to finance itself. As a result this country has the highest inflation rate in the world. The Venezuelan population lives with a social anxiety day to day. They have a discomfort and fear when a figure from a higher social group proclaims a new norm to follow. As it is for now they are living imposed to price controls and there is shortage of food and medicines in the entire country. One outShow MoreRelatedLatin America Revolutions Essay775 Words   |  4 PagesPortugal lost control of Brazil, and Spain was forced to withdraw from all its American empire except for Cuba and Puerto Rico. Colonial government in South America came to an end. Three countries where revolts were successfully established were Haiti, Venezuela, and Brazil. The countries in Latin America benefited from the revolts because they became free from colonial rule, but, except for Brazil, they were left with many consequences. One of the first countries to achieve independence in Latin AmericaRead MoreVenezuel A Powerful Member State1378 Words   |  6 PagesNevertheless, Venezuela is â€Å"a very powerful member state because of its size, its highly industrialized society, and a GPD comparable to that of Argentina and Brazil.† It also has the â€Å"second largest export sector of all Latin American countries and the largest oil and gas reserves in Latin America.† These factors equip Venezuela with sufficient power to affect the Mercosur agenda and rival the influence of Argentina and Brazil. The Argentinian government, led by President Cristina KirchnerRead MorePresident Nicolas Maduros President Hugo Chavez1455 Words   |  6 PagesRepublic Bolivarian de Venezuela, have adopted a federal system with at least two levels of sub-national government† (p.167). Former president Hugo Chà ¡vez, who dealt with Cuba often, was slowly turning Venezuela into a dictatorship. A government’s antics, such as using coercion and fear tactics against opposition leads it towards a dictatorship. In fact, LaMassa (2015) even indicated â€Å"the influx of Soviet Marxist ideas that Cuba transferred to Venezuela have perverted the political culture of the countryRead MoreRussian Economic Overview1278 Words   |  5 PagesConclusion: Due to the political uncertainty combined with the weak economy that Russia is presenting for a forging investors, we conclude that better options of the BRIC’s countries would be suggested to BFSI invest its money instead investing in the Russia market. Latin America: Venezuela: Political overview for forging companies: Since the adoption of a bilateral government and the differences in a variety of polices, made the political relationship between the United States and Venezuela become tenseRead MoreWhat’s Venezuela Crisis Really About? Essay984 Words   |  4 PagesVenezuela is a country located on the northern coast of South America, bordering the Caribbean Sea, Brazil and Colombia. Venezuela is a country full of beauties and contrasts where people can find beautiful beaches, plains, mountains, and even the majestic highest waterfall of the world (Angel Falls). Also, oil rich nation, one of the upper 10 exporting countries worldwide. During more than four decades, this country lived in full democracy until 1999, when a former military officer, who was involvedRead MoreBolivar, By Simon Bolivar1356 Words   |  6 Pages When Hugo Chà ¡vez was seventeen years of age, he joined the military in Venezuela and embraced his country. When we speak of Chà ¡vez, there were many before him who influenced the man he wanted to be and became. Chà ¡vez and most of Venezuela admired greatly Simà ³n Bolà ­var, â€Å"Simà ³n Bolà ­var was a South American soldier who was instrumental in the continent s revolutions against the Spanish empire. –After France invaded Spain in 1808, he became involved in the resistance movement and played a keyRead MoreThe Washington Consensus And Related Structural Adjustment Provisions ( Saps )1101 Words   |  5 Pagesto foster developments. Naim (1993) informs Williamson’s (2000) propositions, but his Venezuelan example, El Gran Viraje (the Reform), demonstrates these neoliberal policies are problematic. This paper thus encapsulates that such economic, social and political upheavals subsequent the Consensus and related SAP implementation are reasoned with the discrepancy between the idealistic or narrow interpretation and implementation of the Consensus, and the nuanced reality of a nation. The provision of aRead MoreThe Venezuelan Economy And Immigration1468 Words   |  6 Pages The Venezuelan Economy and Immigration Florida Atlantic University Michà ¨le Silva Monsant September 25, 2014 In a brief summary of what Venezuela s economy has been in recent years, we must first introduce Venezuela s economic model throughout the twentieth century, to understand perhaps, the anomalies that exist today. The mix between different economic systems and proposals approaches a socialism similar to the absence of private ownership of the means of production and the stateRead MoreVenezuela’s Economy: Oil, Political Instability, and Social Challenges1860 Words   |  8 Pagesdominated by the production of oil, Venezuela has enjoyed the highest standard of living in Latin America. In spite of its success in the oil industry, agriculture and manufacturing also play important roles in Venezuela’s economy. With this in mind, it would seem as though Venezuela’s economic state has flourished. Rather, it has suffered from the effects of political influence, corruption, and poor economic management. The distribution of wealth across Venezuela has caused the elite to benefitRead MoreEssay about The Independence of Spainish Colonies in America1174 Words   |  5 PagesThe Spanish empire in the Americas faced huge political, social and economic problems in the sixteenth and seventeenth centuries. The empire was stretched to its limit politically and socially with the threat of an uprising from the slave population in its empire. The economy also played a major role and the outlook was just as bleak for Spain with the American colonies drifting towards independence. Spain did not seem able to cope with its empire and had found itself in trouble with regards to