Will Venezuela seize Pfizer for Revenge?

Pfizer recently shut down one of its Venezuela plants, a move that has drawn much criticism from Venezuelan officials because of the fact that the U.S. drug company provides much needed medicine for large parts of the South American country.

The move would comprise just one of a growing trend of nationalized business in the country thanks to socialist leader Hugo Chavez. Venezuela’s rice business, as well as several oil and iron companies, has been taken over by the government already and Hugo Chavez has been advised by the Venezuelan trade minister to do the same with one of Pfizer’s plants.

Although such an action would be temporary, it would have profound symbolic ramifications. Hugo Chavez’s socialist regime has already strongly opposed private business, and taking control of Pfizer would constitute yet another attack on the capitalist model.

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