Chavez nationalization addiction intensifies: steel, glass, real estate developers

Wednesday, November 3rd 2010 - 23:41 UTC

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Venezuelan President Hugo Chavez announced the nationalization of steelmaker Sidetur and of several real estate developers that failed to complete housing projects. Read full article

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Sparticus
Don't you just love Hugo, a classic lesson for budding students of politics. How marxism can destroy a country!!!
Nov 04th, 2010 - 04:46 pm - Link - Report abuse 0
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Fido Dido
doesn't Marxism work for rich people who are comfortable in a palace?
Nov 04th, 2010 - 08:34 pm - Link - Report abuse 0
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Wireless
If all nations in Latin America take this protectionist stance, then their markets will be limited outside of Latin America, typically trade will get to the stage of being with other protectionist states, such as Iran, China, North Korea, etc.,, and progress will slow to a standstill.
External investment will cease, advanced technology will become scarse as these countries start to evolve outside of the rest of the Global Community as free democracies sever links and technological exports.
Latin America will therefore start to fall behind developing countries within Africa and Asia that decide to remain Global in terms of trade.
Maybe this is what Fido Dido wants, not sure all the population in his country thinks the same, but then they may do, who knows?
Does it matter to me? No.
Nov 06th, 2010 - 11:44 pm - Link - Report abuse 0
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