General Motors plant seizure in Venezuela
Recently, the Venezuelan seized a General Motors plant which caused the American auto manufacturer to cease its part manufacturing operation in Venezuela. This is not the first time under Venezuela's socialist regime that property, plants, and equipment were seized and nationalized, as Exxon Mobil had their plant seized in 2007, and Clorox in 2014.
General Motors will fight for the restoration of its plant, as evidenced by this quote from NBC News
The company said it "strongly rejects the arbitrary measures taken by the authorities and will vigorously take all legal actions, within and outside of Venezuela, to defend its rights."
Whether or not GM is able to keep its plant, Venezuela's actions have made it a difficult country for corporations to operate, which I believe will significantly damage Venezuela’s prospects of getting rid of its rampant inflation, economic recession, and political corruption.
Do you believe that the seizure of GM's plant hurts General Motors or Venezuela more?
