Venezuela: unwise economic policy led to the political crisis.

Venezuela: unwise economic policy led to the political crisis. The economic crisis in Venezuela has led to the continued deterioration of the political system. It is an oil economy and was one of the largest exporters of petroleum in the past. Venezuela is the sixth largest oil exporter and the member of OPEC by oil production, but it has evolved itself in the heavy industry product manufacturing over the time. 50 percent of its GDP is still accounted from petroleum exports, so the irregularities and collapses in the oil price profoundly…