The UK’s Channel 4 news channel tends, in my experience, to cover the news with a fairly obvious leftist slant, so it was quite a surprise this evening to watch the programme’s longish report about what is going on in Venezuela, focussing on the activities of President Chavez and his increasingly dictatorial leanings.
I have a very rough-and-ready theory, which holds that countries blessed with vast natural resources are, in some senses, cursed. Venezuela is one of the world’s top oil producers and at a time when crude is trading at the present high levels, it means that a demagogue like Chavez can buy favours with selected groups for quite a while. A country not so blessed — such as Hong Kong say — has to live on its free market wits. In some cases an oil-rich place — such as Dubai, which I mentioned a while ago — is led by folk with the wit to develop its economy with a mind on what will happen when the black gold runs out.
This blog does not seem to like Chavez very much. As and when his government falls, it will not be a pleasant process.