o foreign
concerns, the government has promised to tighten regulation of its
offshore financial center. In mid-2002 the government stepped up
efforts to boost tourism through improved air connections, resort
development, and cruise ship facilities. Agriculture, especially
livestock farming, is a second target for growth. Australia and New
Zealand are the main suppliers of tourists and foreign aid.

Venezuela
Venezuela remains highly dependent on oil revenues, which
account for roughly 90% of export earnings, more than 50% of the
federal budget revenues, and around 30% of GDP. A nationwide strike
between December 2002 and February 2003 had far-reaching economic
consequences - real GDP declined by around 9% in 2002 and 8% in 2003
- but economic output since then has recovered strongly. Fueled by
high oil prices, record government spending helped to boost GDP in
2006 by about 9% and in 2007 by about 8%. This spending, combined
with recent minimum wage hikes and improved access to domestic
credit, has created a consumption boom but has come at the cost of
higher inflation-roughly 20 percent in 2007. Imports also have
jumped significantly. Embolden by his December 2006 reelection,
President Hugo CHAVEZ in 2007 nationalized firms in the petroleum,
communications, and electricity sectors, which reduced foreign
influence in the economy. Although voters in December 2007 rejected
CHAVEZ's proposed constitutional changes, CHAVEZ still has
significant control of the economy and has indicated he intends to
continue to consolidate and centralize authority over the economy by
implementing "21st Century Socialism."

Vietnam
Vietnam is a densely-populated developing country that in
the last 30 years has had to recover from the ravages of war, the
loss of financial support from the old Soviet Bloc, and the
rigidities of a centrally-planned economy. Economic stagnation
marked the period after reunification from 1975 to 1985. In 1986,
the Sixth Party Congress approved a broad economic reform package
that introduced market reforms and set the groundwork for Vietnam's
improved investment climate. Substantial progress was achieved from
1986 to 1997 in moving forward from an extremely low level of
development and significantly reducing poverty. The 1997 Asian
financial crisis highlighted the problems in the Vietnamese economy
and temporarily allowed opponents of refo