Global Perspectives: China's Influence in Venezuela
Weekly commentary on international finance and economics including global events and how world issues affect our domestic issues.
China's Influence in Venezuela
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Events in Venezuela have been fast, furious and tragically painful for the past few weeks. The U.S. and many Latin American countries have thrown their support to opposition leader Juan Guaido over Nicolas Maduro. Things are coming to a head in the next few days with some extraordinary attempts to get humanitarian aid to a starving population.
Our focus this week is on a different angle to the Venezuela crisis that bleeds into current geopolitical issues in other parts of the world. China has an arrangement with Venezuela to access oil in exchange for development loans to the tune of $50 billion, making China one of Venezuela's biggest creditors.
With the U.S. having imposed sanctions on the Maduro regime, there is yet another strain in the troubled U.S.-China relationship. Yet this seems to be almost an afterthought when compared to the rest of the geopolitical hot spots, including China-U.S. trade and China-U.S.-North Korea nuclear weapons talks.
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