Venezuela: Latin America's Lone Wolf

Here, the Bolivarian Revolution begins to encounter problems as other leftist governments are seeking better fortunes. Unlike Venezuela, some of these countries do not engage in large public expenditures and can rely on international reserves. One example is Bolivia, now under President Evo Morales’ third term, where employment and wages rose in 2014 and whose economy will grow by 5.3 percent in 2015, according to the World Bank. Turning economic and geopolitical tables are also causing others to grow closer to capitalist interests. Though the oil price drop will impact Ecuador, a historical ally of Caracas, its economy will not be hit as hard as Venezuela’s, according to the International Monetary Fund and the World Bank. Also, the country invested $3.8 million in a 2015 Super Bowl advertisement to attract U.S. tourists. More…