Now that Venezuelan businessmen have seen that there's no money in importing them;
Importers of appliances are frightened, and some of them have ordered shipping companies to divert their cargos -that were originally to be shipped to Venezuela- to other destinations.
Representatives of logistics companies confirmed such reports. "We are receiving several requests for change of destination from some importers," remarked a top executive of one of the shipping companies that usually operates in Venezuela.
"Change of destination (COD)" in maritime transport is a regular operation in international trade; however, in this case, shipping companies highlighted that Venezuelan importers are reacting to the government's recent move to cut prices in appliances stores. "It is a perfectly legal operation in maritime transport, as customer can decide where goods are to be shipped to," the source highlighted.Just as job creators can decide where to locate their operations, if politicians decree wage rates above market levels be paid. Or pass other onerous labor laws.
This was something mentioned by Chilean novelist Alberto Fuguet when his family moved from California back to Chile in the mid 1970s. His family brought their refrigerator with them because, during the Allende reign, there were none to be bought in Chile.
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