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(单词翻译:双击或拖选)
Venezuela's economy is struggling, weighed down by declining oil revenues, and the mandates1 and initiatives of President Hugo Chavez's brand of socialism. So says a panel of Venezuelan economists3 and analysts5 who are visiting Washington this week. Although experts say the Venezuelan economy is underperforming, they do not foresee a collapse6 that would loosen Mr. Chavez's grip on power.
Hugo Chavez (file photo)
Earlier this year, Hugo Chavez boasted that, thanks to his leadership, Venezuela had insulated itself from the global financial crisis and the worldwide economic slowdown.
The Venezuelan leader said his country has been left untouched by a crisis that threatens the world. Mr. Chavez said the crisis could affect Venezuela, but that, "by the grace of God," 10 years ago the country embarked7 on a [Simon] Bolivarian revolution to protect the nation, its workers and families.
But after years of rapid economic expansion fueled by oil revenues that grew eight-fold from 2000 to 2008, Venezuela's economy is stagnating8, according to Caracas-based economist2 Asdrubal Oliveros who spoke9 at the American Enterprise Institute here in Washington.
Oliveros says Venezuela's gross domestic product is expected to fall by a half percent this year, with the country's oil industry shrinking by nearly eight percent. The economist states that it is oil revenue that guarantees the viability10 of the Chavez economic model.
That model combines massive social spending with increasing government control and regulation of industry. The Venezuelan-born editor of Foreign Policy magazine, Moises Naim, describes the Chavez economic plan this way.
"Hitting the brakes while also hitting the gas at the same time," he said.
Naim and other panelists note that, until recently, record-high oil revenues and unprecedented11 government spending sent the consumption of goods and services into overdrive in Venezuela. At the same time, government price controls and state takeovers of key industries have decimated domestic production. The results have been rampant12 shortages of food and consumer goods as well as runaway13 inflation, which stands at roughly 30 percent per year - the highest in Latin America.
Venezuelan political analyst4 Luis Vicente Leon sees a vicious circle that begins with private sector14 fears of government expropriation.
"Fear means private disinvestment, [the] fall of supplies, price increases, shortages, popular pressures [for government action], Chavez looking for a scapegoat15, the takeover of companies to control the situation - etcetera, etcetera, etcetera," Leon said.
To make matters worse, notes Moises Naim, Venezuela has underinvested in its oil industry.
"Venezuela today has the cheapest gasoline in the world. It is no surprise that gasoline consumption in Venezuela has gone through the roof. The more you consume domestically, the less is left for you to export," Naim said.
And yet Venezuela's stagnant16 economy could out-perform most of those in the region this year. The World Bank projects a 2.2 percent drop in GDP across Latin America, with Brazil's economy contracting by 1.1 percent, Argentina by 1.5 percent, and Mexico by nearly six percent.
Analyst Luis Vicente Leon says that despite the constant threat of government takeovers, investors17 are not fleeing Venezuela.
"Even in the middle of a crisis, we have a lot of money going around in Venezuela. The majority of Venezuelan investors are still in Venezuela, because Venezuela is a mine. It is an oil mine," he said.
Moises Naim adds that the economic slowdown does not constitute a serious challenge for President Chavez.
"Reports of the imminent18 collapse of the Venezuelan economy have been widely exaggerated. That has not happened and I do not think it will happen," Naim said. "I think that the combination of highly-concentrated political power and economic power derived19 from oil, regardless of the price, can generate a very long life for this regime."
The global financial crisis has also given President Chavez a rhetorical tool domestically and on the world stage. Again and again, the Venezuelan leader has stated that the crisis has exposed the United States as bankrupt and capitalism20 as a failure - and that he is more determined21 than ever to press ahead with what he terms "21st century socialism."
1 mandates | |
托管(mandate的第三人称单数形式) | |
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2 economist | |
n.经济学家,经济专家,节俭的人 | |
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3 economists | |
n.经济学家,经济专家( economist的名词复数 ) | |
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4 analyst | |
n.分析家,化验员;心理分析学家 | |
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5 analysts | |
分析家,化验员( analyst的名词复数 ) | |
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6 collapse | |
vi.累倒;昏倒;倒塌;塌陷 | |
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7 embarked | |
乘船( embark的过去式和过去分词 ); 装载; 从事 | |
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8 stagnating | |
v.停滞,不流动,不发展( stagnate的现在分词 ) | |
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9 spoke | |
n.(车轮的)辐条;轮辐;破坏某人的计划;阻挠某人的行动 v.讲,谈(speak的过去式);说;演说;从某种观点来说 | |
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10 viability | |
n.存活(能力) | |
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11 unprecedented | |
adj.无前例的,新奇的 | |
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12 rampant | |
adj.(植物)蔓生的;狂暴的,无约束的 | |
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13 runaway | |
n.逃走的人,逃亡,亡命者;adj.逃亡的,逃走的 | |
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14 sector | |
n.部门,部分;防御地段,防区;扇形 | |
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15 scapegoat | |
n.替罪的羔羊,替人顶罪者;v.使…成为替罪羊 | |
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16 stagnant | |
adj.不流动的,停滞的,不景气的 | |
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17 investors | |
n.投资者,出资者( investor的名词复数 ) | |
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18 imminent | |
adj.即将发生的,临近的,逼近的 | |
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19 derived | |
vi.起源;由来;衍生;导出v.得到( derive的过去式和过去分词 );(从…中)得到获得;源于;(从…中)提取 | |
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20 capitalism | |
n.资本主义 | |
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21 determined | |
adj.坚定的;有决心的 | |
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