Venezuelan President Hugo Chavez’s threat to expel U.S. Ambassador William Brownfield over comments about compensation in nationalizations may further discourage foreign investment in the oil-rich country, analysts said.
“The signal it sends is `Don’t invest in Venezuela’,” said Robert Bottome, a political and economic analyst for Caracas-based research group Veneconomia. “It’s very hard to find a sane person willing to invest in Venezuela right now.”
Others are welcome, though:
A delegation of Cuba’s most influential Cabinet members flew to Venezuela this week to sign 16 deals worth more than $1 billion, highlighting the close relations between Caracas and Havana,
but that won’t stop Venezuela’s Lost Human Capital from fleeing:
As Chavez confiscates productive farms, sends red-shirted political rabble to take over apartments, shuts down TV stations, restricts government jobs and services to his friends, abandons the capital to crime, boosts Cuba’s security presence, puts armed troops on every corner, launches neighborhood spying committees and forces Marxist indoctrination into even private schools, more Venezuelans find they can no longer endure it. They’re leaving.
Venezuelan immigration to the U.S. has gone up more than 5,000% since 2000. Canada has seen a similar surge.
Maybe that’s why Hugo’s expropriating airports now.
In any case, Threatened with expulsion from Venezuela, U.S. Ambassador William Brownfield says he will concentrate on trying to improve rocky relations, but acknowledged his bags are packed just in case.
In lighter news, I just realized that Hugo gets manicures – see for yourself:
Buffed nails, trimmed cuticles, fake letters. What a guy.