EU levies threaten Harley Davidson's business plan - How open is China's open-door policy? –Venezuelan town creates its own currency
Venezuela is in the middle of an economic meltdown, facing chronic inflation and an acute shortage of essential goods. The government wants to tackle the situation by raising fuel prices. But that could prove tricky.
The Venezuelan economy is in freefall, crippled by a currency crisis that has seen inflation soar to farcical levels. The country’s populist government introduces measures on Monday aimed at halting the collapse.
In a bid to combat hyperinflation, Venezuela has unveiled new paper money with five fewer zeros. It comes after the IMF warned that the nation's inflation could reach one million percent this year.
China's president, Xi Jinping, has met with his Venezuelan counterpart, Nicolas Mauro, in Beijing. Maduro is hoping to deepen ties and secure increased financial support from his Chinese ally.
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