...Hugo Chavez, Marx and Engels and the Venezuelan Revolution Karl Marx and Friedrich Engels introduced the idea that history is one of a struggle between classes. Marx and Engels were not talking about the economic lower, middle, and upper classes of today. Instead, what Marx and Engels meant was the struggle between the working and capitalist classes. Another way of looking at it is the ruling class versus the ruled class. Hugo Chavez, President of Venezuela, had similar ideas about stopping the exploitation of the working class. I believe that Marx and Engels would agree with Chavez’s policies, programs and ideas because of Chavez’s desire to get rid of capitalism, the social reforms Chavez did and because the problems arising in Venezuela opened the door for a revolution. Marx and Engels argued that the struggle between the ruling class and the ruled class is actually the struggle between the Bourgeois and the Proletarians (2003, 126). Marx and Engels say that the expansion of industry itself has advanced the development of the Bourgeoisie, which led to the development of the Proletariat or the ruled class (2003, 127). When Marx and Engels say, “It has agglomerated population, centralized the means of production, and concentrated property in the hands of a few (Marx and Engels 2003, 129).” What this means is that Bourgeois have taken control of everything and this is what Marx and Engels are trying to get rid of. The Bourgeois control all the means of production and property...
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...Chapter #2-Country Focus: Chavez’s Venezuela Page 42 Hill - Global Business Today 8th Edition Type each question and give answer below question. Answer the question consistent with the homework guidelines on page 4 of the syllabus. Management 470-International Business Management Fall 2014 Question 1: Under Chavez’s leadership, what kind of economic system is being put in place in Venezuela? How would you characterize the political system? (3 points) Under Hugo Chavez’s leadership, a democratic socialist system was formed. Chaves was a huge advocator for global capitalism beginning when he ran for office. Chavez’s first step toward holding power over the government was when he took over the distribution of resources around Venezuela. In 2005, he announced an increase in the royalties the government would collect from oil sales. He also seized control over the court system when he fired Supreme Court justices. Chavez also extended government control over the media as well. Lastly, Hugo Chavez took various enterprises into state ownership and required that other enterprises be restructured as “workers’ cooperatives” in return for government loans. Question 2: How do you think that Chavez’s unilateral changes to contracts with foreign oil companies will impact upon future investment by foreigners in Venezuela? Discuss each concept and element of the question within the framework of an actual and specific example. (5 points) Chavez’s unilateral changes with foreign...
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...the nations that depend on raw material exports, the main objective for creation of SWF is for controlling high volatility of resource prices, unpredictability of extraction, and exhaustibility of resources. STABILIZATION SWFS The SWFs that are created to reduce volatility of government revenues, to counter the boom-bust cycles' adverse effect on government spending and the national economy are called Stabilization SWFs. SAVINGS SWFS These SWFs are created to build up savings for future generations. Resource curse SWFs can help avoid resource curse in resource-rich countries. Governments may be able to spend the money immediately, but risk causing the economy to overheat, e.g., in Hugo Chávez's Venezuela or Shah-era Iran. In circumstances such as economy overheat in Hugo Chávez's Venezuela or Shah-era Iran which aroused due to high liquidity, saving the money to spend during a period of low inflation is often desirable. SWFs are also created for economical and strategic reasons such as war chests. • The Kuwait Investment Authority managed excess reserves above the level...
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...achievements such as the modification of the constitutional framework as well as laws that enabled a stronger participation eventually resulting in political change that was strongly demanded. However, these political and economic reforms came at a price there was a lot a resistance from the Venezuelan people. The ongoing tension held by the people made itself very clear from 2001 to 2003 when the opposition attempted to force the resignation of Chavez. Venezuela suffered a catastrophic recession in 2002, “According to the Central Bank, in 2002 the variation of the GDP compared with the previous year register -8.9% and in 2003 it was -7.8%. For the oil industry, the variation registered was -14.8% for 2002 and -1.9% for 2003. In 2003 the unemployment rate reached 18.9% and by 2004 it had decreased only to 15.1%” (Lopez Maya, pg 222).The leadership of Hugo Chávez in 1998 marked the rise of the left in Latin America and especially the rise of the Bolivarian forces. The leadership of Hugo Chávez in 1998 marked the rise of the left in Latin America and especially the rise of the Bolivarian forces. After this devastating downfall for Venezuela's economy and political regime the government seeked an effective way to productively confront the political and economic impact that was created. Leading to the creation of the Endogenous Development Nuclei. This reform was created on the basis to offer solutions to the principles of participatory democracy for important social problems. This...
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...One of the most conclusive verdicts on the leadership of Hugo Chavez in Venezuela came out of a physician who became famous for ensuring that he had inner knowing that cancer will eventually kill the president of Venezuela. It was widely covered by the media of opponents, communication eager to fill the void left by the lack of official information on the health status of Chavez statements. Beyond truth diagnosis doctor Jose Rafael Marquina, a Venezuelan who resides in Florida, USA, also transcended his criticism of the style of government of the now deceased leader. In an interview with the local newspaper Tal Cual in December 2012, he said: "Chavez dealt with his illness in the same way it did with the country in an improvised way." From...
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...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. The analysis includes reviews and an extensive research about: First the geography and global information to introduce the country; second, the History since the arrival of the Spaniards. The Political analysis will be explained as much detailed as possible due to its specifics characteristics in the recent decades with the Hugo Chavez’s government. He report draws special attention in the Social analysis is one of the main issues to be reviewed due to its importance at the time of making any decision. The economic aspect of course will be in consideration with both: the Official’s figures and the international observer’s ones, the graphics will be analyzed. It will be also mentioned the Business environments and the principal sectors to invest or that could be interesting to sell. To support all the information in the report before any conclusion, it will be used THE SWOT tool to demonstrate why Venezuela is an interesting place to import, especially in the last 5 years. It is not just a country of striking natural beauty, which ranges from the snow-capped Andean peaks in the west, through the Amazonian jungles in the south, to the beaches of the...
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...Al-Qaeda making comeback in Iraq, officials say BAGHDAD (AP) — Al-Qaeda is rebuilding in Iraq and has set up training camps for insurgents in the nation's western deserts as the extremist group seizes on regional instability and government security failures to regain strength, officials say. / Iraq has seen a jump in al-Qaeda attacks over the last 10 weeks, and officials believe most of the fighters are former prisoners who have either escaped from jail or were released by Iraqi authorities for lack of evidence after the U.S. military withdrawal last December. Many are said to be Saudi or from Sunni-dominated Gulf states. Teenage School Activist Survives Attack by Taliban At the age of 11, Malala Yousafzai took on the Taliban by giving voice to her dreams. As turbaned fighters swept through her town in northwestern Pakistan in 2009, the tiny schoolgirl spoke out about her passion for education — she wanted to become a doctor, she said — and became a symbol of defiance against Taliban subjugation. / On Tuesday, masked Taliban gunmen answered Ms. Yousafzai’s courage with bullets, singling out the 14-year-old on a bus filled with terrified schoolchildren, then shooting her in the head and neck. Two other girls were also wounded in the attack. All three survived, but late on Tuesday doctors said that Ms. Yousafzai was in critical condition at a hospital in Peshawar, with a bullet possibly lodged close to her brain. Israel's Benjamin Netanyahu calls for early elections JERUSALEM...
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...Business Management University of the Incarnate Word VENEZUELAN OIL MARKET 2 Table of Contents Abstract ............................................................................................................................................3 Review of Venezuela .......................................................................................................................4 Geographic Location ....................................................................................................................4 Demographics ...............................................................................................................................5 Economic Indicators .....................................................................................................................5 Politics and Economic Freedom ...................................................................................................6 Analysis of Entry Modes .................................................................................................................7 Government’s Role ......................................................................................................................8 Joint Ventures ...............................................................................................................................8 Recent Events in Entry .................................................................................................................9 Future...
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...Geography 3 1.2 Population 4 1.3 Political System 4 1.4 Economic System 4 1.5 Market Spotlight 5 1.6 Trade Agreements 6 2 Doing business in Venezuela (Compare with China) 6 2.1 Starting a business 7 2.2 Dealing with construction permits 8 2.3 Employing workers 8 2.4 Registering property 9 2.5 Getting credit 9 2.6 Protecting investors 10 2.7 Paying taxes 11 2.8 Trading across borders 12 2.9 Enforcing contracts 12 2.10 Closing a business 13 2.11 The ranks trend of 10 Factors from 2007 to 2010 in Venezuela 13 2.12 The ranks trend of 10 Factors from 2007 to 2010 in China 14 3 Global Competitiveness Index 15 3.1 The comparison (Score) of GCI with Venezuela and China in 2010 16 3.2 The comparison (Rank) of GCI with Venezuela and China in 2010 16 3.3 The trend of GCI (Rank) 2 countries from 2002 to 2010 17 3.4 The trend of GCI (Score) 2 countries from 2005 to 2010 18 4 Conclusion 18 4.1 Market Challenges in Venezuela 18 4.2 Market Opportunities in Venezuela 19 4.3 Experience from China 19 4.4 Recommendation of Strategy 20 4.5 Venezuela Economy: Impact of Nationalization 20 *Executive Summary My selected country Venezuela is the worst rank, in order to evaluate the business environment, first, I do some research for Venezuela profiles, which include basic information, population, political system, economic system, market spotlight, and trade agreement. Second, according...
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...resulting from errors, inaccuracies or omissions affecting any part of the publication. All information is provided without warranty, and Business Monitor International makes no representation of warranty of any kind as to the accuracy or completeness of any information hereto contained. ISSN 1474-5615 Vol 29 Issue 3 March 2012 Andean Business Monitor International’s monthly regional report on political risk and macroeconomic prospects THIS MONTH’S TOP STORIES VENEZUELA Living On The Edge BMI View: This year will be of pivotal importance for Argentina and Venezuela, with potential knock-on effects for the entire region. Both countries are on a highly unsustainable macroeconomic trajectory, which could lead to an economic and political implosion....
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...Role and Importance of BRICS Bank Sudhakar Singh PGPSM 2015 National Institute of Securities Market The ‘BRICs’ acronym, in its most common usage, derives from a report to investors by Goldman Sachs’ analyst Jim O’Neill, signaling the new dynamic that four large countries; Brazil, Russia, India and China, were bringing to the global economy at the beginning of the new millennium. A conclusion advanced in the Goldman Sachs report was that the BRICs should be included in the G7 as their macroeconomic significance increased in the decade to come. From a global investment angle, the world has moved on from there to a wider set of dynamic emerging countries, including a number of fast-growing African nations, as more developing countries find their own way to catch up on growth, resisting world recessionary tendencies (O’Neill 2001 2011). The investor’s world of emerging markets has thus expanded beyond the BRICs, even as questions are raised about the sustainability of growth in the BRICs themselves, with their structural and political challenges and their vulnerability to the uncertainties of global monetary developments. (http://mobile.opendocs.ids.ac.uk/opendocs/handle/123456789/3599#.VemUOn2MgQ0) The grouping was originally known as "BRIC" before the inclusion of South Africa in 2010. The BRICS members are all developing or newly industrialised countries, but they are distinguished by their large, fast-growing economies and significant influence on regional and...
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...going to be as successful going forward as it has been. China needs to shift away from an export-driven economy to more of a consumption model. It needs to be mindful about funding its state-owned enterprises, about subsidizing state-owned companies. It needs to lessen its reliance on low-end manufacturing and move up the value chain. By the way, these aren’t my observations; these are observations by Chinese leadership. If you follow any Chinese leader’s speech on China’s economic transformation, these are the points he’ll make. We would call that market rationalism or just normal evolution as a country rises to middle-income status. But there are also some countervailing impulses. There’s a strong streak of economic nationalism; there is a desire to promote national champions; there are protectionist impulses; and investment barriers—the policies called indigenous innovation, where China looks for ways to highlight or promote local companies at the expense of international competition. The fundamental economic question is: Will market rationalism prevail over these kinds of distortions, whether you call them...
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... Investments in a historical perspective Building a Bond Portfolio Vitalij Aleksandrov Gerard Haughey CONTENTS ➢ PART 1 ❖ What are bonds? ❖ What types of bonds exist ❖ Tools of analysis ➢ PART 2 ❖ Characteristics of a good bond portfolio ❖ Choosing a portfolio strategy ❖ Management of a bond portfolio ➢ PART 3 ❖ Creation of our portfolio ❖ Selection of bonds ▪ Analysis of issuer ▪ Technical analysis ▪ Expectations (including risks) ▪ Investment decision ❖ Investment summary ❖ Performance analysis ❖ Effects of crisis on the bonds chosen ➢ BIBLIOGRAPHY PART 1 What are bonds? In the same way that people borrow money, companies and governments also need to borrow money. A company needs to fund its expansion, conduct market research, develop new products etc., and the problem large corporations encounter is that they need more money than any single bank can provide. This is particularly the case with governments who need to fund everything from infrastructural projects to securing bank loans. Because they can’t borrow large sums from banks they must turn to the public market and raise money by issuing bonds. A bond is a fixed income security or a loan given by the bondholders (individual investors) to the issuer (a company...
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...Think Strategically This page intentionally left blank T H I N K STRATEGICALLY Xavier Gimbert Associate Professor, Business Policy Department, ESADE Business School © Xavier Gimbert 2011 All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No portion of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, Saffron House, 6-10 Kirby Street, London EC1N 8TS. Any person who does any unauthorized act in relation to this publication may be liable to criminal prosecution and civil claims for damages. The author has asserted his right to be identified as the author of this work in accordance with the Copyright, Designs and Patents Act 1988. First published 2011 by PALGRAVE MACMILLAN Palgrave Macmillan in the UK is an imprint of Macmillan Publishers Limited, registered in England, company number 785998, of Houndmills, Basingstoke, Hampshire RG21 6XS. Palgrave Macmillan in the US is a division of St Martin’s Press LLC, 175 Fifth Avenue, New York, NY 10010. Palgrave Macmillan is the global academic imprint of the above companies and has companies and representatives throughout the world. Palgrave® and Macmillan® are registered trademarks in the United States, the United Kingdom, Europe and...
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...EDITOR'S INTRODUCTION Two big events will frame the year ahead: America’s presidential election and the summer Olympic games in Beijing. The race for the White House will be a marathon, from the front-loaded primary season in January and February to the general election in November. The betting is that the winner will be a Democrat—with a strong chance that a Clinton will again be set to succeed a Bush as leader of the free world. China, meanwhile, will hope to use the Olympics to show the world what a splendid giant it has become. It will win the most gold medals, and bask in national pride and the global limelight. But it will also face awkward questions on its repressive politics. America and China will be prime players in the matters that will concentrate minds around the world in 2008. One of these is the world economy, which can no longer depend on America, with its housing and credit woes, to drive growth. America should—just—avoid recession, but it will be China (for the first time the biggest contributor to global growth) along with India and other emerging markets that will shine. Another focus of attention will be climate change. As China replaces America as the world’s biggest producer of greenhouse gases, serious efforts on global warming depend on the serious involvement of those two countries. If 2007 was the year when this rose to the top of the global agenda, in 2008 people will expect action. It is striking that green is a theme that links all the contributions...
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