And the worst part is that they never listen, if a socialist country wants to raise taxes that is one thing, but in Venezuela we saw the government confiscating the assets of big companies, the international community warned the government of Venezuela at the time this was an awful idea as no one will want to make business with them in the future if they kept taking those actions.
They did not listened and now they cannot attract foreign investments, they thought they could get around this with their oil income but when the price collapsed this threw into disarray any semblance of order in the country and now they are going through these adverse times, and unless something changes this will be their reality for decades to come.
As far as I know, they not just confiscated the assets of large corporations, but also did that to some of the rich Venezuelan individuals. Socialism always work using jealousy. Poor people are always jealous of the rich, and want their wealth to be stolen and redistributed. But the first group never attempt to become rich themselves. They give all sorts of excuses for that - lack of education, lack of opportunities.etc. And the political parties make use of this mentality to exploit them. Since the rich are very few in number, they can be looted, harassed and thrown out of the country. But the main issue with socialism is that eventually they will run out of rich people who can be looted. And this is what happened in Venezuela.