{"id":5015,"date":"2021-04-22T17:34:15","date_gmt":"2021-04-22T17:34:15","guid":{"rendered":"http:\/\/lonecandle.com\/?p=5015"},"modified":"2021-04-22T17:34:15","modified_gmt":"2021-04-22T17:34:15","slug":"will-peru-become-the-next-venezuela","status":"publish","type":"post","link":"https:\/\/lonecandle.com\/?p=5015","title":{"rendered":"Will Peru Become the Next Venezuela?"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"> &#8220;Pedro Castillo, a self-described Marxist-Leninist heading the Peru Libre (&#8220;Free Peru&#8221;) ticket, has secured a spot in the country&#8217;s June 6 presidential runoff election. The only person standing between him and power is Keiko Fujimori, the daughter of a former president who assumed dictatorial control in the 1990s and the leader of Fuerza Popular (&#8220;Popular Force&#8221;), a right-wing populist political party. If Castillo wins, he threatens to impose the same sort of ruinous policies that have decimated Venezuela.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><br>Peru Libre&#8217;s\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/apisije-e.jne.gob.pe\/TRAMITE\/ESCRITO\/2108\/ARCHIVO\/FIRMADO\/9716.PDF\" target=\"_blank\">platform<\/a>\u00a0calls for an economic transformation that would include nationalization of the mining, gas, oil, hydro-energy, and communications industries; agrarian reform which will include land expropriation and might involve land redistribution; elimination of private pensions; voiding contracts with the companies that are currently in charge of managing airports, railways, ports, and highways, and transferring these functions to regional governments and municipalities; and reviewing all trade agreements with an eye toward abrogating at least some of them.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><br>&#8230;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><br>&#8220;Chavez nationalized Venezuela&#8217;s oil industry in 2005. Not only did state mismanagement prove fatal, but the lack of private investment also contributed to the demise of the once-mighty Venezuelan industry. Castillo&#8217;s plans to nationalize Peru&#8217;s powerhouse copper industry will lead to similarly tragic results. If Castillo wins, expect both government mismanagement and an output collapse that will cripple the nation&#8217;s copper production.&#8221;<\/p>\n\n\n\n<figure class=\"wp-block-embed-wordpress wp-block-embed is-type-wp-embed is-provider-reason-com\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"YXO8BWH3Yk\"><a href=\"https:\/\/reason.com\/2021\/04\/22\/will-peru-become-the-next-venezuela\/\">Will Peru Become the Next Venezuela?<\/a><\/blockquote><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Will Peru Become the Next Venezuela?&#8221; &#8212; Reason.com\" src=\"https:\/\/reason.com\/2021\/04\/22\/will-peru-become-the-next-venezuela\/embed\/#?secret=8gT0Nf35lH#?secret=YXO8BWH3Yk\" data-secret=\"YXO8BWH3Yk\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Pedro Castillo, a self-described Marxist-Leninist heading the Peru Libre (&#8220;Free Peru&#8221;) ticket, has secured a spot in the country&#8217;s June 6 presidential runoff election. The only person standing between him and power is Keiko Fujimori, the daughter of a former president who assumed dictatorial control in the 1990s and the leader of Fuerza Popular (&#8220;Popular Force&#8221;), a right-wing populist political party. If Castillo wins, he threatens to impose the same sort of ruinous policies that have decimated Venezuela.<\/p>\n<p>Peru Libre&#8217;s platform calls for an economic transformation that would include nationalization of the mining, gas, oil, hydro-energy, and communications industries; agrarian reform which will include land expropriation and might involve land redistribution; elimination of private pensions; voiding contracts with the companies that are currently in charge of managing airports, railways, ports, and highways, and transferring these functions to regional governments and municipalities; and reviewing all trade agreements with an eye toward abrogating at least some of them.&#8221;<\/p>\n<p>&#8230;<\/p>\n<p>&#8220;Chavez nationalized Venezuela&#8217;s oil industry in 2005. Not only did state mismanagement prove fatal, but the lack of private investment also contributed to the demise of the once-mighty Venezuelan industry. Castillo&#8217;s plans to nationalize Peru&#8217;s powerhouse copper industry will lead to similarly tragic results. If Castillo wins, expect both government mismanagement and an output collapse that will cripple the nation&#8217;s copper production.&#8221;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[372,1270,560,741],"class_list":["post-5015","post","type-post","status-publish","format-standard","hentry","category-article-share","tag-election","tag-peru","tag-socialism","tag-venezuela"],"_links":{"self":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/5015","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5015"}],"version-history":[{"count":1,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/5015\/revisions"}],"predecessor-version":[{"id":5016,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/5015\/revisions\/5016"}],"wp:attachment":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5015"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5015"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}