With current events in Venezuela it seems that they are in
the process of a state-building.
After doing some background search on Venezuela I came to
understand the reasoning for Venezuela’s current economic situation.
Hugo Chaves rigged the economy, he didn’t scale back Venezuela
dependence on oil, meaning if oil prices fell it would be impossible to sustain
programs like food subsidies, improved education, and health care. After Chaves
death, Nicolas Maduro became president at that time oil prices were falling and
Maduro was not able to adjust economic inflation. After Maduro taking over
there was still corrupting within the regime.
Maduro was importing goods and pricing them at over market
value price, being one of the reasons on why people lack resources and there
only way to sustain is trough foreign borrowing.
Recently Trump imposed another section on Venezuela, this
time on their oil, Venezuela’s main source of cash. He used this as a strategy to
increase suffering on Maduro to give up power. In return Trump administration
has promised $20million in food and medical aid, and that money will only go to
Mr. Guaido’s government.
Seems like a state-building accruing, the citizens are in
need of a new government, and are also feeling international pressure for new political
regimes. From past readings done in class the best way to achieve a successful change
in government it by acting quick.
https://www.nytimes.com/2019/01/28/us/politics/venezuela-sanctions-trump-oil.html
Jessica Padilla
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