News Analysis Warning signs are flashing all over China’s banking sector. Chinese regulators have seized and bailed out lenders at an unprecedented pace amidst a surge in bad debt all the while forcing banks to step up lending at increasingly lower interest spreads. It’s a way to keep banks in business but not a recipe for future longevity. Increasing worries about the health of China’s financial system have hit investor confidence in banks and hurt recent capital raising efforts as well. I wrote in August that after three Chinese bank bailouts in three months, more will follow. After a few months of calm, two local bank runs in November have added fuel to the fire. Yingkou Coastal Bank is the latest to suffer a bank run. Yingkou faced a “flash…
The publication cited an incident at the Augusto D’Aubeterre Lyceum primary school in which five children fainted and two more were taken to hospital during a 15-minute prayer ceremony led by a local Catholic bishop.
Meanwhile, children are reportedly basing their decision to attend school on whether or not not food will be provided to students.
Teacher and union leader in Boca de Uchire, Maira Marín, told the publication, “You can’t educate skeletal and hungry people.”
Venezuela, which is home to the world’s largest crude oil reserves, had previously maintained relative stability and had one of the fasting-rising economies in Latin America.
However, it has witnessed a catastrophic economic crisis since 2014 when the global price of oil dropped along with the demand for Venezuelan oil. The South American nation’s gross domestic product plummeted and inflation quickly skyrocketed.
The country’s economy relied heavily on oil exports, which made up roughly 90 percent of its earnings, and with those earnings, the socialist government, led by Hugo Chávez from 1999 to 2013, paid for numerous social programs.
Meanwhile, schools across the nation provided students in even remote areas with an education, however the government’s spending obligations grew dramatically.
As a result of its economic turmoil, nearly 32 million Venezuela citizens have been left unable to buy food and medicine, while power cuts and shortages have become a regular occurrence.
As political discontentment steadily grows within the nation, a reported four million Venezuelans have left the country in recent years, depleting it of both students and teachers alike.
For those teachers who remain, wages are next to nothing, while some schools barely see 100 students as opposed to the thousands that previously attended due to the high cost of uniforms, school utensils, and bus fares.
Experts have now warned of the danger Venezuela’s collapsed education system poses to its citizens, which could potentially stunt the country’s development.
“An entire generation is being left behind. Today’s education system doesn’t allow children to become meaningful members of society,” Luis Bravo, an education researcher at the Central University of Venezuela in Caracas, told the publication.
According to UNESCO Institute For Statistics, 324,992 children were out of school in 2017 compared to 120,920 six years prior.
Many schools are now reportedly closing down in the formerly wealthy nation, in contradiction to President Nicolás Maduro’s socialist government’s long-preached ideology of social inclusion.
Malls and small retailers across the country advertised discounts of up to 80 percent on a range of goods, in the hope that it would encourage an influx of Christmas shoppers and compensate for weak sales, which dropped by 50 percent this year, Reuters reported.
This article is from the Internet:Students Fainting From Hunger in Venezuela’s Schools Amid Economic Crisis
Protesters could be heard shouting slogans such as “disband the police force,” and “the heavens will eliminate the Chinese Communist Party, let the entire Party die.” The peaceful march, which was organized by a local netizen who identified himself as Swing, had been granted police approval. But soon after it took off, police interrupted the scene. A sizable force had gathered, with at least nine police vans in the area. At around 4:50 p.m. local time, riot police suddenly charged at protesters at an area near the intersection between Salisbury Road and Nathan Road, which is right before Salisbury Garden. The police fired pepper spray and tear gas, before making at least two arrests. The police then put up a blue flag, declaring that people are engaging in an illegal…