{"id":26582,"date":"2024-07-30T14:48:59","date_gmt":"2024-07-30T12:48:59","guid":{"rendered":"https:\/\/michelsanti.fr\/?p=26582"},"modified":"2024-07-30T14:48:59","modified_gmt":"2024-07-30T12:48:59","slug":"contextualizing-venezuela","status":"publish","type":"post","link":"https:\/\/michelsanti.fr\/en\/venuzuela\/contextualizing-venezuela","title":{"rendered":"Contextualizing Venezuela"},"content":{"rendered":"<p>In 1989, Venezuela had the same GDP per capita as South Korea. Today, it is <strong>8 times lower<\/strong>.<\/p>\n<p>&nbsp;<\/p>\n<p><img data-recalc-dims=\"1\" fetchpriority=\"high\" decoding=\"async\" data-attachment-id=\"26584\" data-permalink=\"https:\/\/michelsanti.fr\/en\/venezuela\/venezuela-une-contextualisation\/attachment\/gttq5-sxuaegae4\" data-orig-file=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/07\/GTtQ5-SXUAEGAE4.jpg?fit=1125%2C1562&amp;ssl=1\" data-orig-size=\"1125,1562\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"GTtQ5-SXUAEGAE4\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/07\/GTtQ5-SXUAEGAE4.jpg?fit=216%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/07\/GTtQ5-SXUAEGAE4.jpg?fit=738%2C1024&amp;ssl=1\" class=\"alignnone size-full wp-image-26584\" src=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/07\/GTtQ5-SXUAEGAE4.jpg?resize=1125%2C1562&#038;ssl=1\" alt=\"\" width=\"1125\" height=\"1562\" srcset=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/07\/GTtQ5-SXUAEGAE4.jpg?w=1125&amp;ssl=1 1125w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/07\/GTtQ5-SXUAEGAE4.jpg?resize=216%2C300&amp;ssl=1 216w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/07\/GTtQ5-SXUAEGAE4.jpg?resize=738%2C1024&amp;ssl=1 738w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/07\/GTtQ5-SXUAEGAE4.jpg?resize=768%2C1066&amp;ssl=1 768w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/07\/GTtQ5-SXUAEGAE4.jpg?resize=1106%2C1536&amp;ssl=1 1106w\" sizes=\"(max-width: 1125px) 100vw, 1125px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>We used to serve Caracas with the Concorde. This immense country had a great future: oil, tourism, agriculture&#8230;<\/p>\n<p>&nbsp;<\/p>\n<p>In 1980, the USA had the same GDP per capita as France. Today, it is <strong>twice as high<\/strong>.<\/p>\n<p>&nbsp;<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" data-attachment-id=\"26588\" data-permalink=\"https:\/\/michelsanti.fr\/en\/venezuela\/venezuela-une-contextualisation\/attachment\/pib\" data-orig-file=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/07\/pib.jpg?fit=1900%2C1480&amp;ssl=1\" data-orig-size=\"1900,1480\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"pib\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/07\/pib.jpg?fit=300%2C234&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/07\/pib.jpg?fit=1024%2C798&amp;ssl=1\" class=\"alignnone size-full wp-image-26588\" src=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/07\/pib.jpg?resize=1170%2C911&#038;ssl=1\" alt=\"\" width=\"1170\" height=\"911\" srcset=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/07\/pib.jpg?w=1900&amp;ssl=1 1900w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/07\/pib.jpg?resize=300%2C234&amp;ssl=1 300w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/07\/pib.jpg?resize=1024%2C798&amp;ssl=1 1024w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/07\/pib.jpg?resize=768%2C598&amp;ssl=1 768w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/07\/pib.jpg?resize=1536%2C1196&amp;ssl=1 1536w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/07\/pib.jpg?resize=1200%2C935&amp;ssl=1 1200w\" sizes=\"(max-width: 1170px) 100vw, 1170px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>Numbers mean nothing without geopolitical context!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In 1989, Venezuela had the same GDP per capita as South Korea. Today, it is 8 times lower. &nbsp; &nbsp; We used to serve Caracas with the Concorde. This immense country had a great future: oil, tourism, agriculture&#8230; &nbsp; In 1980, the USA had the same GDP per capita as France. Today, it is twice&hellip;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"give_campaign_id":0,"_crdt_document":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"mc4wp_mailchimp_campaign":[],"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[648942685],"tags":[],"class_list":["post-26582","post","type-post","status-publish","format-standard","hentry","category-venuzuela"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Contextualizing Venezuela - Michel Santi<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/michelsanti.fr\/en\/venuzuela\/contextualizing-venezuela\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Contextualizing Venezuela - Michel Santi\" \/>\n<meta property=\"og:description\" content=\"In 1989, Venezuela had the same GDP per capita as South Korea. Today, it is 8 times lower. &nbsp; &nbsp; We used to serve Caracas with the Concorde. This immense country had a great future: oil, tourism, agriculture&#8230; &nbsp; In 1980, the USA had the same GDP per capita as France. 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However, this country enjoyed steady growth until the start of the 1990s as Italian household income caught up with the period\u2019s norm for the other eurozone\u2026","rel":"","context":"In &quot;austerity&quot;","block_context":{"text":"austerity","link":"https:\/\/michelsanti.fr\/category\/austerity"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2019\/07\/Italie-300x199.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":29595,"url":"https:\/\/michelsanti.fr\/en\/europe-downgraded\/france-in-mourning-for-its-millionaires","url_meta":{"origin":26582,"position":1},"title":"France in mourning for its millionaires!","author":"Michel Santi","date":"June 9, 2025","format":false,"excerpt":"Capgemini\u2019s World Wealth Report 2025 announces it: France is in mourning for its millionaires! Our country had 21,000 fewer millionaires in 2024, while the United States gained 562,000 more over the same period. What is happening on this land called France, whose stock market was the only one in the\u2026","rel":"","context":"In &quot;europe downgraded&quot;","block_context":{"text":"europe downgraded","link":"https:\/\/michelsanti.fr\/en\/category\/europe-downgraded"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/06\/drapeau-en-berne.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/06\/drapeau-en-berne.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/06\/drapeau-en-berne.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/06\/drapeau-en-berne.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/06\/drapeau-en-berne.jpg?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/06\/drapeau-en-berne.jpg?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":30625,"url":"https:\/\/michelsanti.fr\/en\/us-power\/in-the-firmament-of-debts","url_meta":{"origin":26582,"position":2},"title":"In the firmament of debts","author":"Michel Santi","date":"November 16, 2025","format":false,"excerpt":"The USA reign supreme: 34.5% of the global total with $38 trillion \u2014 a monolith 1.6 times heavier than a fragmented Europe (21%, $23T). There are, however, fundamental nuances, because the United States has the dollar and\u2026 Reminder: Total nominal GDP reflects raw power while GDP per capita shows individual\u2026","rel":"","context":"In &quot;fragmented Europe&quot;","block_context":{"text":"fragmented Europe","link":"https:\/\/michelsanti.fr\/en\/category\/fragmented-europe"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/11\/monde-dettes.jpg?fit=865%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/11\/monde-dettes.jpg?fit=865%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/11\/monde-dettes.jpg?fit=865%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/11\/monde-dettes.jpg?fit=865%2C1200&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":19718,"url":"https:\/\/michelsanti.fr\/en\/neoliberalism\/economists-can-we-trust-them","url_meta":{"origin":26582,"position":3},"title":"Economists: can we trust them?","author":"Michel Santi","date":"October 28, 2019","format":false,"excerpt":"Chile is the only Latin American country that is a member of the OECD, and not long ago it was still being cited as an example to follow because of its success and economic recovery. It is, however, just the latest victim to date of a neoliberalism whose ravages have\u2026","rel":"","context":"In &quot;neoliberalism&quot;","block_context":{"text":"neoliberalism","link":"https:\/\/michelsanti.fr\/en\/category\/neoliberalism"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2019\/10\/apprenti-sorcier.jpg?fit=1023%2C682&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2019\/10\/apprenti-sorcier.jpg?fit=1023%2C682&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2019\/10\/apprenti-sorcier.jpg?fit=1023%2C682&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2019\/10\/apprenti-sorcier.jpg?fit=1023%2C682&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":26678,"url":"https:\/\/michelsanti.fr\/en\/china\/japanification-of-china","url_meta":{"origin":26582,"position":4},"title":"Japanification of China","author":"Michel Santi","date":"August 29, 2024","format":false,"excerpt":"\u00a0 \u00a0 Extended periods of deflation, economic stagnation, a declining real estate market, financial pressure and stress impacting households, businesses, and the state. All signals suggesting credible parallels between today's China and Japan in the 1990s. China risks becoming an aging and heavily indebted country before it becomes a wealthy\u2026","rel":"","context":"In &quot;China&quot;","block_context":{"text":"China","link":"https:\/\/michelsanti.fr\/en\/category\/china"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/08\/Chine-Japon.jpg?fit=1200%2C676&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/08\/Chine-Japon.jpg?fit=1200%2C676&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/08\/Chine-Japon.jpg?fit=1200%2C676&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/08\/Chine-Japon.jpg?fit=1200%2C676&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/08\/Chine-Japon.jpg?fit=1200%2C676&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":27210,"url":"https:\/\/michelsanti.fr\/en\/ordoliberalism\/pitiful-germany","url_meta":{"origin":26582,"position":5},"title":"Pitiful Germany","author":"Michel Santi","date":"December 17, 2024","format":false,"excerpt":"\u00a0 Germany is now heading toward early elections. Chancellor Scholz has lost the confidence vote in Parliament, signaling the end of the coalition that had already collapsed on November 6. The main issue? In short, the budget, and especially the famous \"debt brake\" that was enshrined in the German constitution\u2026","rel":"","context":"In &quot;Germany&quot;","block_context":{"text":"Germany","link":"https:\/\/michelsanti.fr\/en\/category\/germany"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/11\/trade-deficit-1.jpg?fit=1200%2C710&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/11\/trade-deficit-1.jpg?fit=1200%2C710&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/11\/trade-deficit-1.jpg?fit=1200%2C710&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/11\/trade-deficit-1.jpg?fit=1200%2C710&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/11\/trade-deficit-1.jpg?fit=1200%2C710&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/26582","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/comments?post=26582"}],"version-history":[{"count":3,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/26582\/revisions"}],"predecessor-version":[{"id":26593,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/26582\/revisions\/26593"}],"wp:attachment":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/media?parent=26582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/categories?post=26582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/tags?post=26582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}