Giuseppe Cordivani’s once-thriving shoe factory on the outskirts of Caracas, Venezuela, is now barely surviving. Welcome to a country with 2 million percent inflation.
March 5, 2019 10:00 a.m. ET
CARACAS, Venezuela—Giuseppe Cordivani’s factory on the outskirts of the capital used to make nearly 300 pairs of women’s shoes a day, from pumps to high-heeled dancing shoes that sold nationwide. With hyperinflation biting, he’s making just 20 today. “No one beats hyperinflation—no one,” said Mr. Cordivani, whose father founded the company 55 years ago. “We work just to try to cover our expenses.”
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