Free Republic

Stock markets dropped Thursday on profit-taking after a recent run higher on optimism on trade deals, and news on more US tariffs on China, while Argentina's peso and the Turkish lira tumbled. The peso slumped to a new record low, prompting Argentina's central bank to raise its benchmark interest rate to 60 from 45 percent in a bid to arrest a slide in its value. The drop came even after the International Monetary Fund's agreed to consider Argentina's request to speed up payments under its $50 billion loan. The peso fell 13 percent against the US dollar, taking its losses...

It was once billed as a model of socialist fraternity: South America's first high-speed train, powered by Chinese technology, crisscrossing Venezuela to bring development to its backwater plains. Now all but abandoned, it has become a symbol of economic collapse — and a strategic relationship gone adrift. Where dozens of modern buildings once stood, cattle now graze on grass growing amid the rubble of the project's gutted and vandalized factory. A red arched sign in Chinese and Spanish is all that remains of what until 16 months ago was a bustling complex of 800 workers. That's when the project's Chinese...

On September 26, Venezuela held parliamentary elections. Since Hugo Chavez was elected to the presidency in 1998, Venezuela has been transformed from a country with democratic institutions to one where the president controls all branches of government. The elections serve the purpose of making Chavez look like he is presiding over a free society but in reality provide no real chance for change. In this context, it is important to understand the true nature of the present Venezuelan political reality. Many observers, journalists and scholars have tried to define the Chavez regime. Some have referred to it as being neo-populist...

CARACAS, Venezuela (Reuters) - Venezuelan President Hugo Chavez warned on Sunday he could reconsider diplomatic ties with the United States if Washington fails to extradite a Cuban exile Caracas wants to try on terrorism charges. Venezuela is demanding the United States hand over Luis Posada Carriles, a militant foe of Cuban President Fidel Castro, to face trial for masterminding the 1976 bombing of a Cuban aircraft that killed 73 people. Chavez has pushed hard for Posada to be sent to Caracas under an extradition agreement with the United States, but Sunday's comments were his first warning that already strained relations...