Amid falling oil prices in a worsening economy and an “economic war” being waged by the private sector against the government, Venezuela’s United Socialist Party loses the National Assembly elections.
It was always going to be an uphill fight for the ruling United Socialist Party of Venezuela (PSUV) in the National Assembly elections held on December 6. With oil prices hitting a historical low in recent years, the oil-dependent economy of the country has not been in a healthy state. Oil accounts for 96 per cent of the country’s export earnings. With the price of oil sliding from $108 a barrel in June 2014 to under $30 a barrel now, Venezuela’s oil income has more than halved in the past two years.
Under the leadership of President Hugo Chavez, the state had introduced ambitious welfare schemes. When the oil revenue was high, the PSUV could implement its socialist agenda, which included free health care and education for the poor. The drying up of revenues led to shortages of essential items. Venezuela imports 70 per cent of the essential food items it needs. Inflation has been high, hitting triple digits. The private sector, never friendly to the government, has resorted to mass layoffs and is manipulating currency controls. The government accused the business sector of carrying out “economic warfare”, including manipulation of the prices of basic necessities. The “economic war” has also resulted in the enrichment of the tiny elite while pushing more and more Venezuelans below the poverty line. In the first quarter of 2015, profits of private sector banks in the country soared by 72 per cent. The private sector in Venezuela continues to occupy the commanding heights of the economy. The media controlled by big business have also been playing a key role in vilifying the government.
SHORTAGE OF ESSENTIAL GOODS
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How Not To Handle An Epidemic
The lockdowns were meant to buy time to put in place appropriate health measures and contain the coronavirus’ spread, but they have failed to achieve the objective and heaped immense misery on the marginalised sections of society. India is still in the exponential phase of the COVID-19 infection and community transmission is a reality that the government refuses to accept.
Tragedy on foot
As the COVID-19-induced lockdown cuts the ground beneath their feet in Tamil Nadu, thousands of migrant workers are trudging along the highway to the relative safety of their upcountry homes.
Sarpanchs as game changers
Odisha manages to keep COVID-19 well under control because of the strong participation of panchayati raj institutions and the community at the grass-roots level under the leadership of Chief Minister Naveen Patnaik.
Scapegoating China
As the COVID-19 death rate spikes and the economy tanks in the United States, Donald Trump and his advisers target China and the World Health Organisation with an eye to winning the forthcoming presidential election.
New worries
Kerala’s measured approach to the pandemic and lockdown has yielded results. But it still has to grapple with their huge economic impact on its economy, which it feels the Centre’s special financial relief package does little to alleviate.
No love lost for labour
Taking advantage of the lockdown and the inability of workers to organise protests, many State governments introduce sweeping changes to labour laws to the detriment of workers on the pretext of reviving production and boosting the economy.
Capital's Malthusian moment
In a world that needs substantial reorienting of production and distribution, Indian capital is resorting to a militant form of moribund neoliberalism to overcome its current crisis. In this pursuit of profit, it is ready and willing to throw into mortal peril millions whom it adjudicates as not worth their means—an admixture of social Darwinism born of capital’s avarice and brutalism spawned by Hindutva. .
Understanding migration
When governments and their plans are found to be blatantly wanting in addressing reverse migration, exercises such as the Ekta Parishad’s survey of migrant workers throughout India can be useful to work out creative long-lasting solutions.
Waiting for Jabalpur moment
The Supreme Court’s role in ensuring executive accountability during the ongoing lockdown leaves much to be desired. Standing in shining contrast is the record of some High Courts.
An empty package
The Modi regime, which has been unable to control the COVID-19 infection, restore economic activity and provide relief to millions exposed to starvation, trains its sights on Indian democracy, making use of the panic generated by fear and a lockdown that forecloses paths of resistance.
