Question

rite a 1-2 page essay considering whether the recent acts involving nationalization in Venezuela and Bolivia are in conformity with recognized international standards. You may compare these acts with the expropriation of foreign assets in China and Cuba after these nations experienced communist takeovers.

Answer 1

The nationalization has been a recent trend in changing standard in petroleum and gas reserves, especially building relation with international investors from brazil, spain, argentina.Bolivia comparatively has lesser oil reserves compared to venezuela with massive political instability energy sector nationalisation after 1990s recieved massive foreign investor , bolivia now scrutinizes the contracts with member countries to ensure they do not earn profits more than what they had orignally investment. But focus on cooperation is in lieu with the standards to ensure investment helps in boosting economic growth and productivity . However the nationalisation was far away from US attention as it was not of the economic interest for them , but their interest was more inclined towards exploring resources from other countries like china , cuba has a different legal system with state intervention and liquidation of private property to sieze property.