This may trigger Socialists, but face the reality. Venezuela just destroyed itself with printing money and too much dependence on oil, when the prices of oil went down a few years ago. Ohh, before that, when Hugo Chavez(Jimmy Carter's agent in Venezuela) ordered printing of too much paper money without value, depending on oil, neglecting other potential economic targets and kicking out the middle and upper classes, classifying them as foreign agents.
Well, in Kazakhstan, where a strongman named Nursultan Nazarbayev is ruling since 1991, has been implementing macro-economic reforms after years of economic stagnation following the collapse of the Soviet Union. Kazakhstan's economy is not yet near Russia's economy but it may surpass if Nazarbayev's economic ministers will expand the economic prospects and less dependence on oil.
As we all know, oil is one of the most turbulent products on the world market when prices go down, but Kazakhstan's Capitalist system recovered well since 2014 despite the challenges of corruption by some within their government; but not as corrupted as in the socialist haven of Venezuela.
An interesting article about the Kazakh economic stability is here, if you don't believe my observation:
https://astanatimes.com/2018/02/kazakh-economy-grows-4-percent-in-2017-on-increases-in-manufacturing-non-extraction-industries/
Look, Kazakhstan is a market economy like Russia and has diversified it's economy to avert the crisis of 2014 oil crisis and it's a Capitalist system. Venezuela printed too much paper money, relied only on oil and kicked out the middle class, which doomed them since the time of the popular Chavez.
One moral lesson: Socialism has a lot of red tapes and only cares about the government thugs, while Capitalism cares for the people.
No comments:
Post a Comment