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The Emerging Left in Latin America

 

The oil stoppage cost Venezuela nearly 9 billion dollars, which was 9 percent of its annual GDP rate. The economy contracted by 8.9 percent in 2002 and 9.4 percent in 2003. After this however the Venezuelan economy began to grow at an exponentially high rate. Their main product, oil, rose to nearly fifty dollars per barrel and continued to rise until its peak in 2008 of one hundred and forty dollars per barrel. Chavez, until his death continued to maintain a hold on the economy and its trade practices. He contends that the poorest of Venezuelans cannot wait until the economy can oversee its dependence on oil and that these government programs and support are vital for the Venezuelan population. Other country that follows suit with Chavez and Venezuela is Bolivia. Bolivia is lead by President Evo Morales. Morales, similar to Chavez believes in a neo-liberal trade market where the government is highly in control. Similar to Venezuela and how Chavez took control of the oil market, Mendes did the same but with the natural gas market. Both countries implement this style to better serve the poorest of people and allow for equality in the trade market. Not an open free trade market. .
             Socially for Venezuela, Hugo Chavez has been difficult at times but has impacted his people in a positive light. The United States has always viewed Chavez and his government as an extremist that needs to be removed from power, but for his country he does well by his people. Chavez and the PSUV have lowered poverty rates, lowered unemployment rate, and increased the human development index. To maintain his favoritism towards the people Chavez also uses the state radio and TV broadcasting as partisan tools to help him maintain favor. Chavez has also been key in many improvements to healthcare, literacy, nutrition, and education. These improvements have also allowed Venezuela to meet some of the poverty reduction targets that were set at the U.


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