United States-Venezuela Relations and Economic Development From 2017-2020

Dr. Tamunopubo Big-Alabo and Nnenna Sylvia Okafor
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Dr. Tamunopubo Big-Alabo: Department of Political and Administrative Studies, Faculty of Social Sciences, University of Port Harcourt, Rivers State, Nigeria
Nnenna Sylvia Okafor: Department of Political and Administrative Studies, Faculty of Social Sciences, University of Port Harcourt, Rivers State, Nigeria

International Journal of Research and Innovation in Social Science, 2021, vol. 5, issue 6, 135-145

Abstract: The study examined United States-Venezuela relations and economic development 2017-2020. The theory that was used for the study was the hegemonic theory by Antonio Gramsci. The ex- post facto research design was used for the study. Accordingly, data was sourced through secondary sources like, textbooks, newspaper, journal articles, textbooks, and internet. Qualitatively analyses were used to analyse the data, although figures and tables were presented where required. Evidences drawn from these sources were prudently examined in order to establish a reasonable trend from which inferences were drawn. The study found that Venezuela has promoted new regional cooperation arrangements that deliberately excluded US and that through the executive orders that was issued by Donald Trump the government of Venezuelan has been prohibited from accessing US financial markets. The study suggested among others that US should stop sanctioning Venezuela as these have affected the economic development of Venezuela and United States must not intervene in the activities of Venezuela as this has divided the country which is not healthy for the development of any nation.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:bcp:journl:v:5:y:2021:i:6:p:135-145

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