of Che Guevara in 1967 and the Soviet invasion of Czechoslavakia in 1968. Moreover, Caldera rejected the Betacourt Doctrine as too restrictive for Venezuelan interests. Caldera also maintained that the Doctrine was just foreign policy that promoted US wellbeing. In effect, Caldera stated that Venezuela would no longer be limited by such doctrines and that it would seek "ideological pluralism" . Caldera then opened relations with the SU, Eastern Europe and many South American nations that had fallen under military regimes. In 1973, Caldera signed the Lima Consensus that entered Venezuela into the Andean Treaty (Ancom) . The entrance was a positive one because Venezuela was allowed to make many adjustments to the agreement so it would not hurt local businessmen forced to compete with cheap Andean goods. Venezuela also joined for fear of the Brazilian expansion in the region, which was under a military dictatorship . In as much as Caldera strengthened Venezuelas' Andean identity, it put forth as much, if not more, effort in furthering its' Caribbean identity. Caldera began to put extra capitol from petroleum into the Caribbean Development Bank. These funds derived from petroleum were used to finance loans for Central American and Caribbean countries to buy oil at cheaper prices. This practice would be expanded in later years. While the Caldera administration strayed away from and even undid, many of the two previous AD administration policies, Caldera produced a healthy economy and expanded its' relations and identity throughout the region and indeed the world. The elections of 1973 again gave the power back to Carlos Andres Perez and the AD. Perez and the AD captured 48% of the vote as well as the majority in both houses in congress and the majority of the provinces. In October 1973, the Arab-Israeli War began and quadrupled oil prices. The Venezuelan treasury was suddenly flooded with capitol and inflation began to rise raidly. Perez qu...
