It is no secret that currently Venezuela is in the spotlight for several reasons. Regretfully, the news that come from our country are not precisely related to positive things.

Today in the plane that I took in Istanbul the flight attendant gave me the Wall Street Journal. Once again, Venezuela was in the front page of the news paper. At the beginning I thought that it was connected to the political protests and the climate of violence that has increased during the last weeks as a consequence of the measures that the Venezuelan Supreme Court took against the Venezuelan Congress.

However, it was not the case. To our surprise, the headline of the news was related to the decision that General Motors took in order wind up its operations within the Venezuelan territory. This action takes places amid the worst crisis in the history of automotive industry in Venezuela. Moreover, according to the WSJ note, the Seizure of GM operations in Venezuela means that almost 3,000 workers will be in the streets thanks to the socialist policies executed by the Venezuelan government. 

Instead of easing the production of cars, price and exchange controls are generating more misery to the already deprived Venezuelan economy. We only wish that someday, in other context, we will be able to foresee the return of General Motors to Venezuela and, at the same time, that the property rights of the multinational company, as well as the rights of all the individuals in the country, will be respected and protected in accordance with the Rule of Law.