Under Chávez’s leadership, what kind of economic system was put in place in Venezuela?
Under Chávez’s leadership, what kind of economic system was put in place in Venezuela?
How would you characterize the political system?
2. How do you think that Chávez’s unilateral changes to contracts with foreign oil companies
will affect future investment by foreigners in Venezuela?
3. How will the high level of public corruption in Venezuela affect future growth rates?
4. During the Chávez years, many foreign multinationals exited Venezuela or reduced their
exposure there. What do you think the impact of this has been on Venezuela? What needs to
be done to reverse the trend?
5. By 2016, Venezuela’s economy appeared to be on the brink of total collapse. What do you
think needs to be done to reverse this?
Answer preview Under Chávez’s leadership, what kind of economic system was put in place in Venezuela?
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