Watching the World: Venezuela’s sweet deals

Oil is the mainstay of Venezuelan President Hugo Chavez, who is using its currently high prices to sweeten the implementation of his own new world order. For some people, that can mean a very a sweet deal indeed. Consider Venezuela’s chocolate industry. Until the advent of the country’s oil industry in the last century, the cocoa bean was Venezuela’s main export.Now, it seems, Chavez plans to use booming oil revenue to bring back the golden era of Venezuelan chocolate production, as evidenced by an 8-hectare cocoa bean plantation and factory on the Paria Peninsula, on Venezuela’s eastern coast.The owner of the factory borrowed money from the Banco Industrial de Ven...

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