If your news diet occasionally strays outside of the automotive realm, then you know that Venezuela is going through a “transitional phase.” The country’s economy is experiencing uncontrollable inflation, unemployment is around 25 percent, food is scarce, and public health services have become nonexistent. There is also more political turmoil than any single country could possibly handle. Venezuela’s capital of Caracas is now a hotbed of increasingly violent protests, as critics of President Nicolas Maduro are met with heavily armed security forces.
The opposition blames Maduro and the Supreme Court for turning the country in to a dictatorship after dissolving the National Assembly’s ability to govern. There are also claims that the leftist government is overstepping its bounds when it comes to property rights.
While you wouldn’t expect an automaker to weigh in on the matter, General Motors is accusing Venezuelan authorities of the illegal seizure of a plant in the industrial center of Valencia and has vowed to “take all legal actions” necessary to defend its rights. It’s also ceasing operations within the country. (Read More…)