Behind Venezuela's looming collapse - Counting the Cost
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With dire food shortages, hyperinflation and chronic power outages, Venezuela's economic crisis has gone "from bad to worse to horrific." With oil accounting for 95 percent of Venezuela's export earnings, plummeting world prices have sent the South American economy reeling towards collapse: People are going hungry, inflation has spiralled out of control, the military is patrolling supermarkets to keep order amid rising anger, basic raw materials and supplies have run out, and factories are shutting down. According to the World Bank, Venezuela now ranks so low on the list of countries to do business with, it surpasses only Libya, Eritrea and South Sudan. President Nicolas Maduro has turned to selling Venezuela's gold, slashing imports. According to the IMF, the country's gold reserves have dropped almost a third over the past year. So far Maduro has prioritised the payment of international debts to prevent an outright default. Meanwhile Venezuelans are struggling to feed their children, with an alarming consequence - malnutrition is at an all-time high, with the majority of school children not receiving the recommended dose of nutrients for healthy growth and function. Three years after the death of charismatic Hugo Chavez, the popular leader's Bolivarian Revolution is being blamed for failing Venezuela. So why is nothing being done to stop Venezuela's slide? Can Venezuela turn its failing political ideology from attempting to control society into empowering its people to resolve the crisis? We talk to Ruth Krivoy, the former president of the Venezuelan Central Bank; and Ricardo Hausmann, the director of the Centre for International Development at the Harvard School of Government, about how Venezuela fell into crisis. China on top: Forbes Global 2000 The annual list of the world's largest and most influential companies featured a few surprising names, including American banks in the top 15 - a far cry from the dark days of the credit crisis. Chinese companies- in particular the banks - dominate the top 10, in spite of a 'slowing' Chinese economy. Technically, China remains a communist country - however, it has clearly embraced capitalism and its continuous economic 'balance' is owed, somewhat, to its new relationship with brands as opposed to remaining purely a production powerhouse as it has been known in the past. But what is the actual power of a Chinese bank brand and how does this translate - if at all - to an international consumer base? We talk to Robert Haigh, the marketing director of Brand Finance, about the real value of a brand in 2016, and what that's worth to their home countries. Also on Counting the Cost: Cuba: The country is legalising small and medium-sized businesses in order to kickstart the economy; but will Cuban tech entrepreneurs be given the same liberties? A win-win situation in Vietnam: US President Barack Obama lifts the arms embargo on Vietnam during a three-day visit - but the real partnership begins and ends with trade agreements. Monster merger: German Bayer, the world's second-largest crop chemical producer, has placed the world's largest ever all-cash bid on Monsanto, the world's biggest supplier of genetically-modified seed. This has been rejected by Monsanto, but what does a potential future merger mean for the global agriculture industry? More from Counting the Cost on: YouTube - http://aje.io/countingthecostYT Website - http://aljazeera.com/countingthecost/
Comments
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This is a vivid demonstration of why women should not vote. The woman in this video laments not being able to feed her family, but she neglects to mention that her vote for socialism, along with the majority of women in Venezuela, authorized the system that destroyed their economy. Socialists know the female buttons to push in order to cajole women to join liberal-socialist parties, then install regimes that will convince the populace to trade all of their civil rights, economy, sovereignty and any inkling of their self-sufficiency for free staples: medical care, schooling, housing, energy, and other benefits. In other words, they want the government to be their "Sugar Daddy". Unfortunately, everywhere this scheme was tried, it collapsed the economy, and a few multi-billionaires survived to flourish out on the fringes behind iron gates.
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My friends, never ever believed what communist telling you. 99.9% nothing but lies! you can take it to the bank!
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Resource based economy instead of monetary based economy ?
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Looking forward to staying in Vietnam for a few year's, capital flight from China is soaring towards Nam, New money guy's. woowow nothing like it.
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Sad. This is what often happens with government trying to control an economy. There isn't any clear way for Venezuela to recover at this point. Economic collapse seems to lead to military rule.
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Socialism...... Hey, I got an idea! Let's try it here!
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SOCIALISM (A DISEASE THAT REAPPEARS EVERY 10 YEARS SOMEWHERE)
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How did you expect things will be when it's run by a Bus Driver?
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And they want this for spain and portugal. Shame on all the comunist shitheads around de world. This is a f* disgrace!
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socialism always fails….it failed in Arab world, USSR and North Korea and Cuba…same road USA is on if Democrats are elected…..
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"..until government give them food..."
Bullets yes, food no. More starving ahead. As all socialists endeavors end up to. -
deberías hablar en español, no se haga buey
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This is what happen when you give all power to the government, here in the US we are going the same route. Socialism sucks
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When the US forces regime change, they don't pull any punches. Source: "Confessions of an Economic Hitman" John Perkins download online free.
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Socialism at its best !
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Why does capitalism work? Because everyone is fighting freely to bring the best products/innovations to the world, business owners don't spend all of their money on materialistic things (which is the lie that the Venezuelan Government promotes) the business owners put the money back in to research and development. People innovate under a capitalist system, under a socialist one you'll wait in long lines and may get scoldings or even arrested if you try to improve your Government.
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Why is it that it never fails that there always some Harvard apologist alway defending the world market of control. Venezuela suffering because there is no so called free market as such claimed. They control all forms of commerce and they using it to destroy governments such as Argentina and Brazil as well. The international monetary funds bankers are using the infiltrators to disrupt the government that claimed there national gold and throw out there interest. Now they put a choke hold on the Economy with their economic hit man back place to control the currency and vast national resources in Venezuela that are abundant in, oil, gold etc. These agencies of centralized world government have reclaimed 1/3 of the gold already nationalized, creating term oil burning agriculture to force the people to revolt against its own government. Has nothing to do with capitalism nor socialism. The what the global banker want is total control. It being done though food that can happen here as well.
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We Chat is a bad example to use as a successful brand because China has banned all the competitors from their market. Facebook, google and many other are banned in China China doesn't have an open and free market. China has a lot of protectionism in their market.
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Maduro has 2 things he could do to help the economy resign or lower Venezuela's 95 percent oil exports to 45 percent and stop printing money
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There one living with my friends roommate who came to America to get addicted to drugs. Acts like he really cares about the country by "sponsoring" kids to visit America.
If you care about VEN so much. Please go back to REALLY help. Too many of you over here already.
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