Latin American label markets: despite the challenges caused by economic instability, the label industry in Latin America is growing.
Label & Narrow Web › Vol. 8 Nbr. 8, November 2003
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Latin American label markets: despite the challenges caused by economic instability, the label industry in Latin America is growing.
Sometimes the biggest indicator of a label converter s success or failure has nothing to do with capabilities, competition or a skilled staff. In Venezuela, for instance, it has more to do with oil. Venezuela's petroleum industry accounts for about one-third of the country's gross domestic product and 80 percent of export earnings. So what happens when the president allegedly mismanages the top state oil company?
Inflation rises to 40 percent. Protests and strikes threaten the presidency. The president reacts by imposing controls on foreign currency. Imports are severely crippled. Thousands of businesses close. And the label industry is crushed. "Venezuela is not doing anything at all. They are really having a lot of political internal conflict which has stopped the pri...See the full content of this document
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