Is Venezuela on the Verge of Collapse?

God will provide,”said Venezuelan President Nicolás Maduro in his State of the Union speech last Wednesday. Praying is one of the few options left for Maduro, after an unsuccessful international tour of the Middle East, where he lobbied the Saudis to cut oil production and raise the tumbling price of crude. During a 13-day tour he also visited Russia (twice), China and Portugal, all in a bid to drum up investments and credit. The president did not disclose how much he might have received; instead he spent much of his time framing his trip as an effort to form a bulwark with China, Russia and others against what he considers an American plan to dominate the world. More…