Venezuela's Long Slide Toward Chaos

As reformers' hopes fade, Washington has an opportunity to end its hands-off approach.

Issue: March-April 2016

VENEZUELA IS a failing state. Despite having the world’s largest proven hydrocarbon reserves, the nation is bankrupt. Basic consumer goods are scarce or unavailable. Purchasing power is falling fast as a result of the world’s highest inflation rate. The healthcare system is in a state of collapse. Infrastructure is in disrepair. Common crime is out of control as the social order begins to break down. The U.S. alleges leading government figures to be engaged in narcotics trafficking and money laundering.

Welcome to the Bolivarian Revolution.

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