Friday, October 3, 2008

Hugo Chávez: U.S. will adopt socialism

Venezuelan President Hugo Chávez predicts that the United States will eventually adopt a socialist economic model.

Chávez says ''the United States will move to socialism someday'' because capitalism favors a wealthy minority and leaves the majority in poverty.

Under Chávez, Venezuela has increased state control over the economy, funded cooperatives and nationalized the country's largest telephone, electricity, steel and cement companies.

But critics say Venezuelans have not benefited from the push toward socialism as they struggle with high inflation.

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