Introduction: Venezuela is a country in South America that occupies the northern coast. It has a population of 30.4 million people according to a 2013 survey. The entire country of Venezuela is about a third larger than Texas. Venezuela shares its border with Columbia to the west, Guyana to the east, and Brazil to the south. The GDP per capita in 2013 was $14,414 US putting Greece on the middle tier on the Global Economic Pyramid. Venezuela’s 2013 inflation rate was also 56.2%. Venezuela has the “largest proven reserves of crude oil in the world” and is currently dominated by the oil industry.
Problems and Challenges: The main problem and challenge that Venezuela’s economy is facing today is a shortage in supplies. Many critics place the blame on Venezuela’s current president Nicolas Maduro and his poor management abilities. Venezuela doesn’t have a stable economy but instead has a poorly run exporting business. The cost of an oil barrel has dropped down significantly resulting in major issues for the country, including food and supply shortage. “Venezuela has $3.5 billion unpaid bill for pharmaceutical imports, payment arrears of more than $2 billion for food, and nearly $4 billion owed to airline companies.” A combination of factors have contributed to this major shortage including a “lack of foreign capital and declining oil prices” but the root of the problem ultimately comes from the countries “socialist economic policies.” The Venezuelan government has also been
During the elections, Queen Emma faced much criticism in the islands for her gender, background, and character. In a letter written by Curtis Jere Lyons, he says on the native bulletin, the words “We do not wish to see the petticoat putting on breeches (or inside of the breeches)” were written above the Queen’s proclamation . By referring to clothes and dress, these words were attacking Queen Emma’s gender. Whoever wrote it did not want to see a woman as ruling monarch. In addition, an article published in The Chicago Tribune in 1874 speaking about the elections states, “The popularity… is purely personal, as she has no hereditary rank and little force of character”. Claiming that Queen Emma’s popularity in the elections was “purely personal” erases
Venezuela, located in the Latin American region, is a country that has been characterized by its abundance of oil reserve. A natural resource that has shaped the history and development of the country, affecting its economic, social and most important is political spheres. For many years Venezuela was controlled by authoritarian regimes. The country, being very important in the sense of geo-politics due to its abundance of oil, has been a key player in the international arena and most important, to those that for many years kept the country under their regime. It was not until 1958 that Venezuela experienced the change to democracy and a stable democracy was kept between the two main political parties of the time, Accion Democratica (AD)
A country known for the Angel Falls (highest waterfall in the world), the exquisite arepas (corn cakes with cheese) and the legendarily Miss Universe titleholders; the Bolivarian Republic of Venezuela is located in northern South America. Regardless from the artistic landscapes, Venezuela is acknowledged for its vital oil reservoirs, its everlasting admiration of Simon Bolivar and its prominent watermark of Chavismo. Moreover, the country’s bureaucratic history has been influenced by Spanish colonialism, authoritarian rule, and the practice of the use caudillos (regional military leaders). Venezuela’s economy has been predisposed by agricultural surpluses of coffee and cocoa despite the fact that the production of oil has determined the country 's GDP (gross domestic product) since the 20th century; slowly turning it into a resource curse nation. Presently, Venezuela has about 30 thousand citizens with an urbanization rate of 89 %, for this reason it is one of the most developed countries in Latin America.
Venezuela has roughly 29 million individuals. Venezuela's northern coastline extends around 2,800 kilometers that impart the waters to various islands in the Caribbean ocean, including Los Roques, Venezuela.Venezuela covers roughly 353,841 square miles.The nation of Venezuela comprises of 23 expresses: the Capital Region (Caracas) and Government Conditions that likewise cover Venezuela's islands. Our city has the ideal spot for various sorts of exchanging and developments to come through.
No one anticipated the international chaos that would emerge during the twentieth century, especially the devastation caused by World War I, World War II, and the Cold War. World War II was the most destructive war in human history and changed the history of the world forever, engaging the world’s most influential superpowers in the largest international event of the era. World War II was fought not only by the armed forces, but also by the home fronts of every belligerent nation, exhausting the economy, the industry, and the morale of those living at home, escalating the conflict into a total war that was larger and fought more expansively than any other conflict in history. The use of American propaganda in the World War II war effort
When Christopher Columbus discovered the coast of Venezuela, he thought he had encountered an earthly paradise, today that grace land is ravaged by famine, inflation, scarcity, violence, social and political conflicts; “social implosion [being] driven by economic collapse, caused by shockingly self-destructive policy making” (Toro, 1). Venezuela’s antidemocratic government and its lack of foresight has created a severe economic crisis crumbling health care system and a lack of basic necessities and is jailing innocent people who object.
Venezuela, officially known as the Bolivarian Republic of Venezuela, is located on the northeastern coast of South America. It is bordered to the east by Guyana, the south by Brazil, and the west by Colombia. The country stakes claim to roughly three hundred and fifty square mile of highly fertile and biodiverse land. As of 2015 the population of the country is estimated to be 29,275,940 (CIA, 2015). Throughout Venezuelan history many unique sociological revolutions have occurred and to understand the present one must appreciate the past.
Since entering high school, I’ve participated in many organizations that have sought to better not only our school but also the community as a whole. For example, since my freshman year, I have been a part of the Goliad Student Council. By being a member of such a club, I’ve had the amazing opportunity to interact with Goliad’s community through various means. I’ve painted the faces of children at town festivals, cleaned the town auditorium for auctions, and I’ve handled sports concession stands for hours on end. Through each of these activities, along with the others I’ve done for student council, I’ve managed to involve myself with multiple residents of Goliad while also working towards a fulfilling goal.
Venezuela’s reputation has been well established regarding its supply of oil and how it was being used for medicinal use and other purposes. It was not until the first oil well was drilled in 1912, when Venezuela became the world’s second largest oil producer behind the US, and the world’s largest oil exporter (Wilpert, 2003). With the well drill in the country it attracted many major oil producers that wanted a piece of anything they could get. The Royal Dutch Shell and Rockefeller’s Standard Oil became the main producers of the oil and maintained a high status. Everything was going great for the company, “ between 1920 and 1935 oil share’s exports went up from 1.9% to 91.2%”(Wilpert, 2003), but not everything goes according to plan. The country had a dramatic impact towards its economy that many recall, “The Dutch Disease.” “The utmost important magnitude of the Dutch Disease was that agricultural production declined to almost nothing and the country fell behind in industrializing, relative to other Latin American countries” (Wilpert, 2003). Thus, Venezuela had passed a reform oil policy that was the Hydrocarbons Act, which was from the oil revenues based on the income of the mines (Wilpert, 2003), bringing the state’s income to stability.
The oil-rich Bolivarian Republic of Venezuela, located on the northern coast of South America, was for many decades considered among the wealthiest nations in the entire continent. While having the largest proven oil reserves in the world has often proved a tremendous boon for Venezuela, the very black gold that has been the cause of its success has also proven to repeatedly be its kryptonite. Over half of the nation’s Gross Domestic Product stems from petroleum exports – which equates to approximately 95% of total exports. It is really not too hard to imagine what drastic consequences shifts in global oil prices could have on the economy.
Venezuela has the world’s largest oil reserves and by 1960, it became the wealthiest country in Latin America. Petróleos de Venezuela (PDVSA), the state owned company, was the key to economic and social development in Venezuela under president Hugo Chavez. His government was settled in an environment where the oil prices were rising and the economy was booming, so he was able fund social programs and practices that were popular to the poor masses. This wealthy and growing Venezuela made Chavez to be very popular and his regime very powerful. Oil revenue accounted for nearly 90% of exports, more than 50% of government revenue, and 35% of country’s GDP.
The main purpose of the following report is to provide information about the profile of The Bolivarian Republican of Venezuela; in order to study the current situation of the country for further investigations in the future that may help to understand the opportunities and risk involve in importing and opening new markets in Venezuela.
Venezuela currently has a population of 31 million people. Venezuela is still growing in numbers, and it’s getting harder for the government to provide health care for their people. Venezuela’s population is 1.9 times larger than South America. The country is mainly urban, and the wealth rate is declining. The resources per person needs to be the same, and as of now that’s not the case. Overall fertility rates are failing in Latin America. In 2015 the population was six times the size that it was in 1950, and the United Nations projects that it will be nine time larger by 2050, and still growing at that point, despite the long-term decline in fertility. (Latin America) Although there are many economic crisis in Venezuela, this isn’t preventing them from having children in higher numbers. This could be the shortage of health care.
With an economy dominated by the production of oil, Venezuela has enjoyed the highest standard of living in Latin America. In spite of its success in the oil industry, agriculture and manufacturing also play important roles in Venezuela’s economy. With this in mind, it would seem as though Venezuela’s economic state has flourished. Rather, it has suffered from the effects of political influence, corruption, and poor economic management. The distribution of wealth across Venezuela has caused the elite to benefit at the cost of the working people. This is mainly due to the economic and political structure of the country. Even with the plentiful resources Venezuela possesses, it is constantly being threatened by political instability,
Venezuela is currently facing the worst economic crisis in history. According to the International Monetary Fund, it has negative growth of -8%, the worst in the world and the worst inflation rate (482%). The current unemployment rate is 17% though this figure is expected to climb towards 30%. Venezuela is a country that is reported to have the worlds largest oil supply, a commodity that has a changing price based on supply and demand. Their ability to sell oil was a primary source of revenue for the government. Exporting oil was reported to be around 96 percent of Venezuela's total exports according to the World Bank. In 2014 the