Shannon O’Neil, Nelson and David Rockefeller senior fellow for Latin America studies and director of the Civil Society, Markets, and Democracy program at the Council on Foreign Relations, provides an overview of “Collapse in Venezuela”—a scenario from CFR’s Simulation O’Neil explores the economic and political crisis in Venezuela, an important oil supplier to the United States. She discusses the legacy of longtime leader Hugo Chavez, who rose to power on a wave of popular frustration and reshaped the country, and the challenges facing his successor, Nicolas Maduro. O’Neil then explains three root causes of Venezuela’s crisis: economic policies and overspending (though poverty and literacy rates have improved), erosion of political rights and democratic institutions, and deterioration of the rule of law. She outlines possible U.S. responses to a wholesale collapse in Venezuela, including a unilateral or multilateral intervention, efforts to contain the collapse in cooperation with Venezuela’s neighbors, and economic and diplomatic steps to help the country rebuild. Venezuela’s challenge, she concludes, is to build a participatory democracy and an economy that can benefit its people.

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