Venezuelans are spending their entire days waiting in line hoping that there is food and basic staples at grocery stores. They’re also heading across the border to purchase the bare essentials.
But why is this happening? You have to take a look at its imports from its six biggest rading partners – the United States, China, Mexico, Brazil, Colombia and Argentina.
According to Bloomberg (see chart below), imports have fallen to a decade-low of $840.5 million in the month of June. And the country is just drowning in oil (and suffering) with nothing to eat. This is why food riots are breaking out because there are shortages of everything.
This is what you get when you integrate socialism, price controls and inept leadership. Socialist paradise indeed…
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