This graph is very interesting to look at... Because it tells you many things. A lot of things.
1) Venezuela had even greater income and GDP than United Arab Emirates (where Dubai is),
so you would expect it to be as rich, but in 2014 it simply collapsed, erased from existence...
The collapse is due to sanctions and protests.
But leaving that aside, one would at least expect that in the years between, Venezuela had looked at least developed close to Dubai... IT'S ABSURD
But Venezuela didn't change as much:
https://www.portafolio.co/files/article_multimedia/uploads/2018/06/16/5b2553d4550ae.jpeg
It is due to socialism itself? Well that's another whole topic... That´s why I placed also Cuba vs. Puerto Rico... You can also search for China vs. EU.
But the really destructive thing about socialism, is that people and politicans generally don't use the full potential of it, as did China, but simply use it to live poor and accomodated. Because that's how Venezuelans lived for most of 21st century. They were poor, but government wasted all the money into free food, free houses, high wages, dead subsidies, and keeping inefficient companies alive... It was so inefficient that even with so much money, Venezuela still had to ask for loans to other countries.
Corruption and stupid leaders is probably the most destructive thing that can happen to a country.
