12/27/2009

Venezuela’s ‘President’ Hugo Chavez has temporarily redirected his anger from America to Japan, as he has begun threatening to expropriate Toyota’s assembly plant if it doesn’t produce more vehicles for Venezuela’s rural areas as well as bring improved technology.

On Wednesday, Chavez reportedly complained that Toyota and other manufacturers were failing to bring their updated technologies to plants in Venezuela. Chavez went on to threaten Toyota to bring updated manufacturing models and technology to their plant or face a government takeover.

Chavez’s threats continued, as he claimed that the socialist state would enforce strict quotas on the number and types of vehicles that automakers are permitted to produce in Venezuela. According to the Wall Street Journal, Chavez even ordered an immediate inspection of Toyota’s facilities to analyze the mix of “rustic” vehicles being produced.

“They’ll have to fulfill the quotas, and if not, they can get out. We’ll bring in another company.” Chavez’s ego continued to threaten Toyota, as he claimed that if the inspections revealed that Toyota was not producing a proper mix or didn’t have enough updated technology, Venezuela would consider taking over the plant and transferring it to the Chinese.

Chavez stated, “We’ll take it over, we’ll pay them what it’s worth and immediately call on the Chinese.”

According to the Wall Street Journal, this is not an empty threat. Chavez has already directed the nationalization of dozens of foreign owned companies, and has even taken over entire sectors of the economy. These takeovers are what Chavez calls a move towards 21st century socialism.

The Toyota plant being threatened by Chavez has been in Venezuela for over 50 years and currently employs 2,000 workers.

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