Economy and Development

A New NAFTA?

September 17, 2018

During his 2016 Presidential campaign, Trump repeatedly claimed that, if elected, he would end all of the United States’ “bad” trade deals and replace them with better ones. Trump voiced his concerns about the North Atlantic Free Trade Agreement (NAFTA) in particular by referring to it as the “worst trade deal in history.” Created in 1992 by the U.S. President, Mexican President, and Canadian Prime Minister at the time, NAFTA established an economic agreement that reduced tariffs on the majority of goods traded between the three countries.

Maduro’s New 'Solution' to Hyperinflation in Venezuela

August 29, 2018

Venezuela is currently fighting one of the worst cases of hyperinflation since the early 1900s and the International Monetary Fund predicts that the situation will only get worse. Due to a combination of poor social policies, a failing national oil industry, and a President who seeks to weaken government institutions and allow political corruption, the Venezuelan bolivar has suffered significantly. The IMF originally projected the bolivar’s annual inflation rate would hit thirteen thousand percent by the end of the year, but has since revised that estimation to one million percent.

Slashing Zeros in Venezuela: The New Currency Among Crisis

August 27, 2018

The Maduro government has staged a plan to help curb the staggering inflation crisis in the country--- by creating a new currency. The idea of implementing a new currency in Venezuela is not new, as the government had tried multiple times to restore some value in their worthless monetary system. The bad news is the country has a terrible track record with financial decisions dating back to when the value of oil took a nosedive and sent the country spiraling into crisis. Their first mistake was backing 98% of their economy in oil.

Modern Infrastructure vs Rural Hardships in Peru

August 14, 2018

Usually developing small-scale infrastructure in rural areas is seen in a positive light, especially when these rural areas are located deep within the Amazon forest in the borders of Peru. That is the mentality that local people in these communities had, and supported the idea of the government building a road to connect to them to the bigger towns nearby. However, although positive changes have been made, there are still negative consequences within the modernization of communities who have remained remote for decades.

Pages

Subscribe to Economy and Development