Venezuela, one of the most urban Latin American province that has been engulfed in a crisis relating to political and socioeconomic practices began during the decade of 2010s under the presidency of Hugo Chavez and has continued during Nicolas Maduro’s also as a result of the power struggle in the political framework (Daniels, 2019). There have been certain causes and reasons behind the upsurge of the crisis eventually raising consequent bringing in the Venezuelan climate.
The study will highligh the Venezuela crisis, the factors involved in its enrichment, and the consequent sides of crisis leading Venezuela and its people towards impactful circumstances.
According to Buxton (2018), Venezuela has been through a critical political instability and disputed political framework between the Presidents Hugo Chavez and Nicolas Maduro enforcing each other at the irresponsibility towards the enactment of a non-corruptive and non-brutal country climate, hence called liable for the ambiguity, violence, and instability of the Venezuelan people and its practices.
The constant third year of recession faced by Venezuela has observed severe economic fluctuations intensified during the Maduro government through economic shrinks in the advent of violence among citizens and political frustration leading to raising the price bar for goods and poor national management scenario, that eventually gave rise to the cause of Venezuela’s catastrophic situations (Mansilla, 2016).
Venezuelan revenue and GDP tracks have a higher dependency on oil exports and petro-state businesses. The high plunged pricing of oil and petroleum goods severed Venezuela’s 2014 revenue and economic frustration in negligence of maintenance and upkeep of its oil production and export businesses, leading to a keen decline in its productional revenues, that catered as one of the major cause of the crisis of Venezuela (Teran-Mantovani, 2018).
Since the dusk of instability and lack of national policy management brought out the podiums for several social misconducts such as violent protests, increased brutality, refugee practices, crimes, murders, diplomacy, and detentions that catalyzed the Venezuela crisis scenario leading to the emigration of its citizens, rise of social security, and many more alike (Gan, 2020).
Foreign countries and neighbors of Venezuela have been a paramount factor in the crisis. The internal political conflict, oil export services, and other factors, with the intervention of the United States identified several allegations and misconducts involving partialized support of one political body (Cannon, 2017). Also, the United States is one of the major business stakeholders in the Petro, and the oil businesses of Venezuela laid foreign pressures that eventually caused the crisis to expand.
Venezuela crisis has occurred as a consequent and most threatening and unsterilized condition, specifically the political force. The ongoing and dynamic political conflict and government brutalism have laid down certain facets of negative outcomes for Venezuela and its people. With the increasing unethical practices and corruptive measures, Venezuelan politics and government forces have been a failure in the management of the country’s human force and implication of policies or regulations for safekeeping the holistic security and welfare for its natives (Buxton, 2018).
Venezuela crisis emerged as a destructing phase of the decade for the nation resulting in facing up of the economic degradations leading the robust arrival revenue disgrace in following manners.
The Venezuelan crisis originated major hazards to its economy by way of hyperinflation in the national economy due to the rapid escalation of prices of goods and commodities in the national market. The impact of the crisis can be illustrated by focusing that the Venezuelan bolivar fuerte banknotes took just 10 years to be magnified from 2 bolivares to 100,000 bolivares which depict the uncontrolled hyperinflation of the country (Pittaluga, 2020).
Malhotra, (2017) stated that being the most economical contributing area of business and service in the Venezuelan EXIM processes, the petro-state has been highly into the demeritorious effects of the crisis as it lands numerous barrels of problems in the production and export business of the oil and petro products. Being known as the largest oil reservoir country in the global reach, the Venezuelan crisis has also grabbed the petro verticals in its consequent influence.
Stevens (2017) stated the later effects of the Venezuelan crisis observed many issues of non-abundance and lack of its necessitated resources. The country eventually saw the dearth of livelihood elements like food, water, health services, natural resources, loss of shelter to many, and more alike that proves the crisis to be life-threatening.
At the social level, the Venezuelan crisis forced the social dissolution of the nation by increased practices of crime, corruption, poverty, etc. (O’Neil, 2019).
The country’s crisis went into the exertion of its people that escalated criminal violence, refugee crisis, and misleads in the country-level boundaries.
The economic degradation of the country as a result of the Venezuelan crisis forced the social backgrounds towards the attainment of corruptive practices in the national borders.
The crisis of Venezuela for a decade forced the major part of its society to mobilize and migrate from the country to other neighboring countries for personal safety, security, and well-being.
The US, being the powerful country in the global arena seeks as a helping hand along with South America to assist Venezuela in the resolution of the crisis and its aftermath by the adoption of policies like low involvement of visa and embassy procedures for Venezuelan citizens, the abolition of criminal and trafficking actions in the country by agreeing to arrest of officials involved, etc.
Brazil has also upward itself as assistance to Venezuela in crisis by utilization of humanitarian benefits and support to the migrant citizens of Venezuela in mediation with the United States (Stuenkel, 2019).
United Nation as a supreme body of control and conduct has come forward in the aid of Venezuela by the development of human rights policy and investigation of its violations to know and harness the situations at the whole level (Doocy et al., 2019).
The conflict theory propounded by Karl Marx refers to the theory based on the societal approach that it is in the state of perpetual conflicting situations that arrive into realization as a result of competing for limited resources. The theory holds the concept that social coordination is maintained by dominance and power rather than consensus (Ellner, 2017).
In the case of the Venezuelan crisis, the conflict theory has proposed a major focus on the competitiveness in the way that the conflicts and destructive situation among the social brackets have emerged as the prominent reason of the effect of lack of resources such as safety, security, rehabilitation, food, water, health, and all other resourceful requirements that are either violated or vanished from the Venezuelan boundaries since the crisis. Thus, the conflict theory of Marxian perspectives lay proper emphasis on the Venezuelan crisis and current scenario of effect.
The Venezuela crisis has emerged as one of the biggest national man-made calamity in the sector of economic and political extremism. The country’s crisis has led to a remarkable negative influence on the citizens and the respective population of Venezuela. Begin from the political disparities, the crisis has taken a form of a devasted system of all other resources and structures of the country’s development such as economy, production, import-export, population suffering, and many more. Thus, the Venezuelan governance must focus on the redevelopment of its holistic practices to cater to a good livelihood for people.
Buxton, J. (2018). The failure of political reform in Venezuela. Routledge. New York.
Cannon, B. & Brown, J. (2017). Venezuela 2016: the year of living dangerously. Revista de Ciencia Política, 37(2), 613-633. Retrieved from: https://www.redalyc.org/pdf/324/32453264017.pdf
Daniels, J. P. (2019). Venezuela in crisis. The Lancet Infectious Diseases, 19(1), 28. https://doi.org/10.1016/S1473-3099(18)30745-X
Doocy, S., Ververs, M. T., Spiegel, P., & Beyrer, C. (2019). The food security and nutrition crisis in Venezuela. Social Science & Medicine, 226, 63-68. https://doi.org/10.1016/j.socscimed.2019.02.007
Ellner, S. (2019). Explanations for the current crisis in Venezuela: A clash of paradigms and narratives. Global Labour Journal, 10(2), 159-169.
Ellner, S. (2017). Implications of Marxist state theory and how they play out in Venezuela. Historical materialism, 25(2), 29-62. https://doi.org/10.1163/1569206X-12301419.
Gan, N. (2020). Rule of law crisis, the militarization of citizen security, and effects on human rights in Venezuela. European Review of Latin American and Caribbean Studies. https://doi.org/10.32992/erlacs.10557.
Malhotra, S. (2017). US oil sanctions against Venezuela: Possible effects. CAPS in Focus, 70, 17. Retrieved from: http://capsindia.org.managewebsiteportal.com/files/documents/CAPS_Infocus_SIDM_00.pdf
Mansilla, D. (2016). Venezuela and the international crisis. In Latin America after the Financial Crisis, 193-227. Palgrave Macmillan, New York.
O’Neil, S. K. (2019). A Venezuelan refugee crisis. Preparing for the Next Foreign Policy Crisis: What the United States Should Do; Stares, PB, Ed, 77-90. https://doi.org/10.1057/9781137486622_9
Pittaluga, G. B., Seghezza, E., & Morelli, P. (2020). The political economy of hyperinflation in Venezuela. Public Choice, 1-14. https://doi.org/10.1007/s11127-019-00766-5
Stevens, S. (2017). When a crisis emerges, look the other way. Harvard International Review, 38, 6. https://search.proquest.com/docview/1906058330?accountid=6724.
Stuenkel, O. (2019). How South America ceded the field in Venezuela. Foreign Affairs, 31. Retrieved from: http://cf.linnbenton.edu/artcom/social_science/clarkd/upload/How%20South%20America%20Ceded%20the%20Field%20in%20Venezuela.pdf
Teran-Mantovani, E. (2018). Inside and beyond the petro-state frontiers: geography of environmental conflicts in Venezuela’s Bolivarian Revolution. Sustainability Science, 13(3), 677-691. https://doi.org/10.1007/s11625-017-0520-7
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