After the collapse of the Soviet Union, the reincorporation of capitalism into the state-planned economies of Vietnam and the PRC, and the end of the US trade embargo with Cuba, it seems that socialism may be on the verge of giving up the ghost entirely. However, if there’s any one regime besides the North Koreans that thinks that couldn’t be… Read more »
AL JAZEERA: Venezuelan bus drivers have caused traffic chaos in Caracas by parking their buses in the street, protesting against the country’s economic crisis. Hundreds of drivers joined the strike on Wednesday, demanding better pay, more security against violent crime and spare parts for their buses. Tyres, car batteries and motor oil are on a long list of goods that have… Read more »
STRATFOR: A number of recent developments, protests on Thursday notwithstanding, have raised the odds that Venezuela could default on its foreign debt repayments, triggering a cascade of events that would destabilize the country. Though the country has lived with the specter of default for years, Venezuelan officials have shown a willingness — given the existential threat that a default would pose to the… Read more »
JAMAICA OBSERVER: Venezuela’s Minister of Foreign Trade, Jesus Farias says the country is seeking to expand its economic presence in the Caribbean. At a recent meeting with businessmen in the Dutch overseas territory of Bonaire, Farias said as part of actions promoted by the Venezuelan government to diversify its economy, the focus is that of presenting its exportable offer to other… Read more »
BBC: Hundreds of thousands of people have marched through the Venezuelan capital, Caracas, to protest against President Nicolas Maduro. Opposition supporters, staging their largest rally for two years, called for Mr Maduro’s removal. They blame him for Venezuela’s economic crisis and accuse the electoral commission of delaying a referendum that could shorten his stay in power. Mr Maduro’s supporters also rallied in… Read more »