Thursday, 30 October 2008

Chávez goes on wasting Venezuelans' money

Bolivia will export $200 million of textiles to Venezuela. That is good for the Bolivians, but: what about Venezuelans? Well, Venezuelans had to pay to the Chinese hundreds of millions of dollars because Chavez wanted a "Bolivarian satellite", which is nothing more than a satellite manufactured and maintained by the Chinese. Venezuela will have to pay through the nose every single year to keep that satellite for Chávez's aims.

Hugo Chávez has spent billions of dollars in weapons from the Russians. He has used hundreds of millions to pay Belorussians for them to build houses in Venezuela which Venezuelan engineers could have built. He has further financed many foreign companies in the form of direct help, subventions or the very overvalued Bolivar.

Meanwhile, our industry is going to pot. The only companies florishing in Venezuela are those engaged in importing all kinds of products. How long will this last?

Going back to the Bolivian deal: what is Chávez doing this for? We know he needs to keep feeding Evo to have support from this. But: what can he exactly get from that? Votes at the Organization of American States in the future when he becomes more isolated? A haven when he has to run away from justice? Or is there something else?

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