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Government price controls for groceries backfired in Venezuela. Although their aim was to make basic necessities available for everyone, the maximum price was so low that it prevented producers from collecting any revenue. As a result, producers began supplying less, causing widespread food shortages.

After a vote in Paraguay's congress, the country of Venezuela has been approved to join the South American trading bloc known as Mercosur. However, Paraguay itself was suspended last year due to the impeachment of a president, which was considered anti-democratic. Paraguay is expected to be reintegrated completely after the election of its new president, Horacio Cartes. These events show how closely related politics and economics can be in the realm of trading organizations.