Posted on 12/28/2009 1:41:50 AM PST by Michael van der Galien
In another attack on private enterprise in Venezuela, soon-to-be-President-for-life Hugo Chávez has given the Toyota Motor Corporation an ultimatum: give us your technological secrets and increase your local production of Land Cruiser 4×4 vehicles, or prepare to have your plants nationalized.
Toyota had discontinued production of this particular “rustic” all-terrain model used for public transport in poor and rural areas, where the transportation infrastructure is nearly non-existent and 4×4 travel is the only way to get around.
The Land Cruiser was not a big seller in Venezuela and Toyota made a business decision to import it on demand from elsewhere. This type of free market decision is anathema to a socialist such as Chávez:
What’s this that Toyota doesn’t want to make the ‘rustic’ model here? We must force them. And if they don’t, then they should leave and we’ll bring another company in … The Chinese want to come and they make ‘rustic’ models.
Notice the explicit threat to use force, which is a typical socialist tactic (which Chávez has employed previously against Venezuela’s energy and communications industries, which he ultimately ended up nationalizing–to the great detriment of the country) when on is trying to assert absolute control.
Chávez has ordered his minions to inspect the Toyota plant. If the inspection reveals that Toyota has not transferred all of its technology to the Venezuelan Government, he will seize it...
(Excerpt) Read more at newsrealblog.com ...
Bring along Ragnar.
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