Venezuela once developed so well, why has it become a poor country now?

Venezuela once developed so well, why has it become a poor country now? For all countries in the world, resources are actually money, especially oil resources. Once it exists, it is very rich. Such as Saudi Arabia, Cartier and so on. They are all in the Middle East, and even Abu Dhabi is in the United Arab Emirates. Because the per capita GDP exceeds120,000 US dollars, it may be rich in six professionals. However, Venezuelan oil is not just Saudi Arabia. Why is it so poor now? Venezuela has so much oil, why is it like this now?

After Chavez's death, Venezuela's domestic economy collapsed and inflation was serious during the oil crisis. Other industries are shrinking, resulting in a shortage of queuing materials for Queen China. Many people are forced to look for food in garbage dumps to increase violence and poor family diseases. More seriously, Venezuela has been shrinking. 20 16 years shrinkage 18%. 20 17 year shrinkage 16%. It is expected to shrink 16%, and the whole economy will continue to reverse. Paradoxically, Venezuela's oil reserves are close to 2 billion tons. If there are potential reserves, it will surpass Saudi Arabia and Russia, ranking first in the world. And Saudi Arabia are so rich in oil, but Venezuela is so poor. Why?

In fact, Venezuela has a serious oil disease. In the era of Chavez, in order to win the votes of potential people, Chavez constantly increased the distribution of oil revenue and completely established a high welfare system based on income. Let people worry, high consumption, and more and more losses. As a result, other industries are gradually shrinking and not developing. And this model can be maintained in the case of high-speed oil growth. However, once oil prices fall or follow-up funds, the apparent prosperity will collapse immediately. Therefore, after Chavez's death, the international oil price fell, which directly led to the outbreak of the Venezuelan oil crisis. Let social production reverse and the people return to poverty.

Oil production. Many people may say that oil prices are falling, like Saudi Arabia and Qatar, can't they maintain their income by increasing production? This is Venezuela's weakness. Venezuela's output is still declining due to the fall in oil prices. It's not that I don't want to increase production, but that I can't. Before Chavez hired more than 40% technicians and technicians in the oil industry, and then the oil industry has not improved. Other oil production capacity is basically 3 million barrels, while Venezuela does not even have150,000 barrels now. And it is still decreasing, so the financial crisis is more serious and we can only borrow money.