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Australia and Venezuela are both resource rich ex-colonies with distinctive positions on foreign direct investment (FDI). Australia is a developed, pro-globalisation nation embracing economic liberalism. Australia endeavours to attract productive FDI to support sustainable industry growth and development. That is, FDI that creates or safeguards jobs and access to overseas markets, introduces new technologies or management skills to Australia, and produces goods or services for export or the Australian market. By contrast, Venezuela's foreign investment policy, though seemingly open, is underpinned by a general dislike for transnational corporations (TNC's) and is subject to sporadic adjustments. In the last two decades Venezuela has attempted to revitalise their volatile economy by liberalising FDI policy. Reforms in the 1990's placed Venezuela among the most promising of emerging markets. However political upheavals between socialists and economic liberals, coups, strikes, alleged corruption, and a track record of unpredicted policy changes have dampened investor optimism. These...

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