Discussion Post
Case Study: Venezuela Under Hugo Chávez and Beyond in the Hill & Hult text.
a) Under Chávez's leadership, what kind of economic system was put in place in Venezuela? How would you characterize the political system?
b) How do you think that Chávez's unilateral changes to contracts with foreign oil companies will affect future investment by foreigners in Venezuela?
c) How will the high level of public corruption in Venezuela affect future growth rates?
d) During the latter part of Chávez's rule, Venezuela benefited from high oil prices. Since 2014, however, oil prices have fallen substantially. What has the affect of this been on government finances and the Venezuelan economy?
e) During the Chávez years, many foreign multinationals exited Venezuela or reduced their exposure there. What do you think the impact of this has been on Venezuela? What needs to be done to reverse the trend?
f) By early 2016, Venezuela's economy appeared to be on the brink of total collapse. What do you think needs to be done to reverse this?
The response must include a reference list. Using Times New Roman 12 pnt font, double-space, one-inch margins, and APA style of writing and citations.