Venezuela’s Economic Roundabout

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While we’re fully aware that the instability of the Venezuelan regime has led to not only political turmoil in the form of protests, the economic impact has been nearly as resounding. With inflation rates skyrocketing, and nearly every product in short supply, purchasing almost anything would be an obvious struggle for Venezuelans. Those who live along the country’s western border with Colombia however, often find their needs easily met. Through bribery and silver tongues, hundreds of Venezuelan smugglers have been rolling in the greenbacks due to Venezuela’s internal conflicts, as their goods can be much better processed outside of the country, especially Colombia. Though, it’s not only smugglers benefiting from Colombia’s proximity. Thousands of average citizens flock through the newly reopened border to purchase any goods necessary for their daily lives, due to the aforementioned local shortages. The environment has been described as “wild”, with a large population of non-permanent visitors, and crime flagrantly occurring within full sight of law enforcement. To add a personal opinion into the piece, Maduro seems to have finally realized the country’s pride has to be sacrificed if any real, ameliorative change is to occur. By allowing his citizens to benefit from neighbors, this sets a precedent that Venezuela is open to local aid, and is actively seeking to fix the problems that have been accumulating under Maduro’s terrible rule.

Aside from the recent border re-opening, President Nicolas Maduro has also promised to raise the national minimum wage by 40%. So, not only is he allowing citizens to access local countries to support themselves in the economic slum, he is also attempting to put more money into their pocket, possibly to draw them back to Venezuela when the situation is eventually resolved. While I choose to put some faith in the Venezuelan president, it is entirely possible this is all done in an attempt to maintain power and gain some support, rather than for the benefit of the Venezuelan people.

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