...American country of Venezuela. The paper’s three main topics include Venezuela’s economy and resources, which both revolve primarily around the petroleum industry, Venezuela’s political relations with Russia and China, and finally US national security and trade interests in Venezuela. 2. Nearly two times the size of the state of California according to the CIA World Fact Book, Venezuela is situated on the northern tip of South America. Venezuela’s available natural resources are abundant, and, according to Heather D. Heckle, in her article for the Encyclopedia Britannica, include some of the world’s largest natural gas deposits, iron ore, vast coal reserves, gold, diamonds,...
Words: 946 - Pages: 4
...com/economic-statistics/Venezuela/GDP_Per_Capita_PPP_US_Dollars/ Venezuela (Venezuela (Bolivarian Republic of)) GDP Per Capita (PPP), US Dollars Statistics Venezuela GDP per capita PPP (http://www.tradingeconomics.com/venezuela/gdp-per-capita-ppp) The GDP per capita, adjusted by purchasing power parity, in Venezuela was last reported at 12233 US dollars in December of 2010, according to the World Bank. Previously, the GDP per capita PPP in Venezuela standed at 12513 US dollars in December of 2009. The GDP per capita PPP in Venezuela is obtained by dividing the country’s gross domestic product, adjusted by purchasing power parity, by the total population. Historically, from 1980 until 2010, Venezuela's average GDP per capita PPP was 8192.61 dollars reaching an historical high of 12899.71 dollars in December of 2008 and a record low of 5517.44 dollars in December of 1980. This page includes a chart with historical data for Venezuela's GDP per capita PPP. [pic] Venezuela GDP Growth Rate (http://www.tradingeconomics.com/venezuela/gdp-growth) The Gross Domestic Product (GDP) in Venezuela contracted 0.00 percent in the third quarter of 2010 over the previous quarter. Historically, from 1997 until 2010, Venezuela's average quarterly GDP Growth was 0.69 percent reaching an historical high of 22.70 percent in June of 2003 and a record low of -15.30 percent in March of 2003. Venezuela is the fifth largest national economy in Latin America. Venezuela is highly dependent...
Words: 1331 - Pages: 6
...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 north, Venezuela is among the most highly urbanized countries...
Words: 6774 - Pages: 28
...America were fought by the US for its domination. A result of the war was the start of US involvement in Latin America. Troubles in the region originated do to US foreign policies weakening of powers in governments and political systems instead of finding solutions for the problems between Latin America and the rest of the world at the start of the 20th century. Since United States...
Words: 1777 - Pages: 8
...The Effects of Falling Oil Prices in Venezuela X W National Introduction Venezuela was founded in1845. It is a member of the Organization of the Petroleum Exporting Countries (OPEC) and located on the northern coast of South America. It is one of the largest crude-oil producers and exporters in the world. “Venezuela’s oil revenues account for about 95 percent of export earnings. The oil and gas sector is around 25 percent of gross domestic product.” (OPEC, 2015) Venezuela is also very famous for its petroleum industry. Except Petroleum, the country’s natural resources include natural gas, iron ore, gold, bauxite, diamonds and other minerals. According to Shehryar (2015), “Since June 2014, a substantial decline in oil prices has occurred, bringing prices of oil down to a five-year low. Venezuela’s oil-dependent economy, without a competitive non-oil sector, has now been facing a tremendous challenge as the per-barrel prices hit a five-year low, with the situation expected to worsen by the first half of 2015.” In this paper, I will introduce the trends of oil and exports in Venezuela and show the effects of the falling price on Venezuela. Trends of Oil and Exports in Venezuela Figure 1 displays the trend of the oil price in Venezuela. Pump price for oil in Venezuela was last measured at 0.02 US dollar per liter in 2012. It was declined from 0.14 US dollar per liter in 1999. The declining trend was huge between 1999 and 2004 and turned down to be smooth after 2008....
Words: 1288 - Pages: 6
...Wednesday, September 17, 2014 Country Focus & Five Questions 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...
Words: 1166 - Pages: 5
...example of monopolistic competition, and its analysis is used to explain the key characteristics of this market as well as the two main firms that compete in this market in the United Stated. These firms are Procter and Gamble and Colgate Palmolive which represent the majority of the market share in the United States. Finally, it is found that innovation is a key factor in monopolistic competition because it represents the ability to differentiate products and attract more consumers. The main conclusion drawn from this paper is that the monopolistic competition is the most common model in the United States and the technology and innovation advances have allowed organizations to reach these types of markets and maximize profits. Venezuela vs. United States Economy Have you ever though why some countries are richer than others? Or what there is inequality among countries? All those answers are related to the economy of a country and their macroeconomic indicators. Today, macroeconomic is a crucial concept that we can see every day in the news; employment, inflation, and growth are some of those economy indicators. (1) But it is not so easy to say why a country is richer than other; or why the economy of a country with one of the highest reserve of oils does not have a good economic performance as other countries have. It does not depend on one only thing, there are several factors that increase the gap between two countries in terms of economic development and growth. This...
Words: 976 - Pages: 4
...5/1/2015 Socialism in Cuba and Venezuela The Socialist ideology policy that titles those philosophies and political actions that protect an economic and political system founded on the organization of production systems and social control by an organized bottom-up workers' state, economic and political sectors to evade that a minority of citizens owning the means of to exercise the abuse of a majority that does not possess the means of production is enforced to sell their labor in exchange for a salary. This socialist ideology has been enforced in two countries for several years; Cuba and Venezuela, but this has not been solved yet, and it’s a topic that everybody should knew something. I will start with Cuba and then Venezuela, and then I will compare them so the reader can know the similarities between them. The first intentions to implement socialism in Cuba come with Fidel Castro and Ernesto "Che" Guevara and his attempts to overthrow the dictatorship of then-President Fulgencio Batista, the dictatorial president was unconditional ally of the United States . They had already had approaches with communist leaders especially from Mexico, there was brewing a plan for the dissemination of communist ideas and policies, especially at the head of Leon Trotsky. In the Cuban revolution that culminated in Batista fled and the establishment of Fidel Castro in power in 1959, who in four years as the island proclaimed socialist who raises concerns in the US ahead in the time of President...
Words: 2790 - Pages: 12
...I spent one week in Moscow with my uncle and when my documents were available, I could finally fly and reunite with my father. After living in Greece for one year and not obtaining legal residency status, my father decided to try fortune in another country: the US. Leaving Greece was easy, but when we reached Great Britain, customs authorities discovered our intentions and prohibited us from boarding the plane toward the US. After being stranded in London for two days, there were only two viable options, Spain or Venezuela because none of them would require visas. So, my father chose Venezuela because it was closer to the...
Words: 499 - Pages: 2
...------------------------------------------------- CULTURAL dIFFERENCES United States and Venezuela Introduction When examining the cultures of Venezuela and the United States there are some aspects of each that make them unique and special. There are three areas in which there is considerable difference. The first would be the cultural dimensions, which reflects the underlying framework of each society, the second would be the family structure and values, and the third would be the social norms, which dictate how people in a society ought to behave. It is important to understand these differences so that as an international marketer one is culturally competent and prepared to interact successfully within another culture. Cultural Dimensions Cultural values are the ideas and things of importance within a society. Starting in 1980, Geert Hofstede studied cultural values of more than 90,000 people in 66 countries, and found that nations differed along four primary dimensions. The four dimensions are; the Individualism/Collectivism Index (IDV), which focuses on self-orientation; the Power Distance Index (PDI), which focuses on authority orientation; the Uncertainty Avoidance Index (UAI), which measures the tolerance of uncertainty and ambiguity among members of the society; and the Masculinity/Femininity Index (MAS), which focuses on assertiveness and achievement. (International Marketing 16th Edition, 2013) Indulgence refers to the extent to which people try to...
Words: 1868 - Pages: 8
...Exercise country analysis and country risk Venezuela Hypump, a US company producing hydraulic pumps used in oil producing industry, likes to investigate the possibility of starting a new subsidiary in Venezuela, and asked you to make a country analysis and country risk report. The facts, key indicators and back ground information of Venezuela you found after research are presented in the Appendix. Use that information to answer the following questions: Moderate poverty and inequality have decreased from 1998 onwards due to the program called ‘Missiones’ according to the World bank (see appendix). 1. Use the fact sheet Venezuela whether this can be confirmed with figures. Assess: a. Level of development b. Income inequality 2. Assess Venezuela’s export structure. What is it based on? Use GDP and expenditure components for Q 3 and Q4 to assess Venezuela’s attractiveness from the table: 3. How can you see 2014 and 2015 are forecasts? 4. Characterize the phase of business cycle Venezuela has faced in 2013 and 2014 (Explain which key indicator(s) are used to answer the question) 5. Make a ‘first level analysis’ of the aggregate components of GDP to explain the economic (GDP) growth during 2013. 6. Explain the influence of imports on GDP in 2013. 7. Make a ‘second level’ analysis of the aggregate components of GDP to find some reason(s) for the movement of the various components. ‘The decrease...
Words: 2111 - Pages: 9
...Deterioration of Chavez Chavez_Cancer http://www.reuters.com/article/2011/10/10/us-venezuela-chavez-idUSTRE7994RB20111010 With the Venezuelan elections coming up, Hugo Chavez, the current president of Venezuela, is trying to win the elections again after being 13 years in possession of the power. At the same time, Chavez’s health has been deteriorating as he announced he has cancer. He also took the cancer look by shaving his hair off and going bald. On the other hand, Chavez has recently been leaving Venezuela unexpectedly going to Cuba leaving his people unattended, meanwhile the media has not always been able to report exactly why the president had to leave his people. It is not the media that is at fault, but the president himself who is trying to hide things; the president himself is at fault of turning Venezuela into a fake democracy in order to keep the power himself. First we will be looking at Chavez’s health conditions in the past years. In June of 2011 Chavez left Venezuela and underwent unscheduled surgery in Cuba for pelvic abscess. After being absent for almost a month from his country, on June 30th, 2011, Chavez announced that he was recovering from an operation removing a cancerous tumor. The Vice President then stated that Chavez remained will “full exercise” of power and that there was no need to transfer powers despite of being absent from Venezuela. On July 2nd, 2011, the newspaper “El Periodico de Catalunya” stated that Chavez had “colon cancer that...
Words: 1188 - Pages: 5
...Venezuela Sues to Shutter U.S.-Based Black-Market Currency News Site Summary: Venezuela has long tried to control their currency through propaganda. Their attempts seek to fix their currencies value despite its real value to foreigners around the world. An American website called “DollarToday” published black-market values of Venezuela’s tanking currency. Venezuela is seeking to sue that company for “cyber-terrorism.” They believe that the effects of the websites publication can destroy their economy. They also believe that the people behind the publication are writing for political or financial agendas. “It wreaks economic havoc on the central bank and the citizens of Venezuela,” the lawsuit says “and it creates the false impression that the central bank and the republic are incapable of managing Venezuela’s economy.” Currently, one US dollar is costing Venezuelans about 130 times the amount of the fixed official value. It is also estimated that Venezuela’s economy will contract another 10% this year and inflation will reach 160%. The government is also avoiding using the dollar, which has caused huge food and basic good shortages, as they are unable to pay for imports. This allegation towards DollarToday is the next effort that Venezuela has taken to try and draw the blame to exterior sources. The last effort was closing the boarder to Colombia and putting the blame on immigrants for their food shortages and lack of public services. With millions of followers, DollarToday...
Words: 289 - Pages: 2
...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...
Words: 1344 - Pages: 6
...UNDP HDR-QMMM SYBA 1 Sr. No. 1 2 3 4 5 6 7 8 9 Partuculars Introduction A1)Synopsis of the Report A2)Chapter 3 the Heart of this report A3)HDR 2013 Significance to a Macroeconomics student A4)Findings of the Report with Regards to Venezuela A5)Lessons Learnt From this Assignment Conclusion Appendix 1 Bibliography Page No. 3 3 4 7 8 9 10 11 12 2 Introduction: The report I have studied for this assignment is the Human Development Report of 2013 . It was prepared and published by the United Nation Development Programme. This report’s subject is The Rise of the South:Human Progress in a Diverse World. Human development reports by the UNDP are published annually.They mark the progress of the development of the countries. A1)Synopsis of the report: The HDR 2013 UNDP report discusses various factors and their consequences on the development of the south mainly those which reduced their shortfall with the Northern countries. Southern Countries don’t follow fixed sets of policies but policies according to their priorities for development related to health, education and per capita income, positively impacting national equity. Employment oriented developmental policies lead to income flows into more households making products more poor accessible . The result is overall development of these countries. Importance of ambitious policies, public spending initiatives and people’s participation is emphasised. Globalisation has been growing in the south but unless...
Words: 3302 - Pages: 14
