Free market and free entrepreneurship are not so free in Western capitalist systems when political matters come into the picture. The Texas-based multinational AT&T left Venezuela last week citing legal pressure caused by US sanctions.
In return, the Venezuelan authorities began seizing AT&T’s assets after the firm decided to abandon the country to reduce exposure to US sanctions.
According to venezuelanalysis.com, “at least three Caracas installations belonging to the US telecommunications multinational have reportedly been occupied by the state regulator CONATEL and the Bolivarian Armed Forces over the weekend, including its transmissions centre in Los Caobos, main administrative headquarters in El Rosal and principal commercial office in Las Mercedes.”
Ongoing merger of US business interests with the agenda of their government is likely to hurt US business opportunities abroad, as countries will view US companies as unreliable and susceptible to easy manipulation by their meddling prone government.
Courtesy: www.venezuelanalysis.com
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