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The Venezuelan Oil and the US Imperialism (1920–2020)

This chapter studies the evolution of the relationships between the US imperialism and Venezuela in the last 100 years. The main purpose is to insert the present form of these links in their historical perspective. The first section is about the implications of Venezuela’s integration into the world economy through oil exports. The second one discusses the effects on the Venezuelan economy of the post-WWII economic expansion. The third and fourth sections deal with the consequences of the world economy changes since the 1980s on Venezuelan society. The last three sections explain the contradictions generated by the development of the Chavista transition project within the local ruling classes and with the US imperialism itself.