Venezuela's President Nicolas Maduro with China's President Xi Jinping (photo:dpa)

President Maduro flounders as Venezuela’s economy sinks deeper into trouble

Nicolas Maduro has been in Venezuela’s top job for just seven months of 2013, but his presidency is already showing severe signs of strain. Inflation is running at 45 per cent and Venezuela is beset with shortages of food and other essential commodities. Mr Maduro’s response so far has been to blame the US and the opposition for engaging in an ‘economic war’. The popularity of the president and his United Socialist Party will be tested in local elections in December 2013.

<i>Venezuela and its new president, Nicolas Maduro, are facing troubling times. Mr Maduro has been actively trying to drum up investment and trade deals, particularly with the Chinese. But so far, nothing appe...

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Dr. Joseph S. Tulchin
The main indicator to watch with Venezuela is the price of oil. If it falls towards US$100 per barrel, the government will get increasingly nervous
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