Tag: Venezuela

Russia, Iran, and China show their military strength during maneuvers in Venezuela

The International Army Games 2022 will be held from August 13 to 27 and will take place in 12 countries, including Venezuela. Two hundred and seventy-five teams from more than 30 countries, including China, Iran, and Russia, will participate in this event.

China rejects U.S. position on the Summit of the Americas

Zhao Lijian, China’s Foreign Ministry spokesman, urged the United States to abandon its unilateral policy following the decision to exclude Cuba, Venezuela and Nicaragua from the IX Summit of the Americas to be held in June 2022.

Venezuela and China review bilateral agenda

The Venezuelan Foreign Minister, Félix Plasencia, announced that he had met with the Ambassador of China, Li Baorong, to review the bilateral agenda with which they seek to deepen the strategic alliance between the two countries.

Venezuela receives 69 tons of medicines from the People’s Republic of China

On March 5, 2022, flight #42 of the China-Venezuela Airlift arrived with more than 69 tons of medicines, medical-surgical supplies and medical equipment to Caracas, Venezuela, confirming the consolidation of bilateral relations between these two countries.

China capitalizes on US sanctions on Venezuela and Iran

Having been sanctioned by the US as a result of the arms embargo, Venezuela and Iran are seeking to reactivate their respective economies through oil exports. Meanwhile, China increased its oil imports from Venezuela and Iran in 2021 to their highest level in the last three years.

Chronic labor law violations: the real cost of Sino-Venezuelan joint ventures

The partnership with China promised to turn Venezuela into a Latin America power. Yet two decades, 468 agreements and over $67bn later, agreements with one of the principal exponents of Chavismo have placed the country at a significant disadvantage. The relationship ended heavily in favor of Asia’s largest economy, leaving Venezuela with a vulnerable labor force, billion dollar debts, and a series of half-finished projects.

Venezuela, revolving door for Chinese interests in Latin America (part II)

Since the turn of the century, close to a hundred Chinese businesses have been set up in all but two of Venezuela’s 23 states. Yet this unprecedented inflow of Chinese capital has not translated into impactful projects. Financed by the two multi-billion dollar bilateral funds set up by presidents Hugo Chávez and Nicolás Maduro with China between 2008 and 2015, at least a quarter are still in an early or planning stage. Since then, issues surrounding the non-payment of loans have caused Sino-Venezuelan relations to cool considerably. Now, researchers from the Kiel Institute for the World Economy warn that at least half of China’s lending in recent years can be considered ‘hidden’. There are concerns that now, and in years to come, the opacity of China’s credit mechanisms could jeopardize crisis recovery in heavily indebted countries such as Venezuela.

Venezuela, revolving door for Chinese interests in Latin America (Part I)

From investment to debt, the dangers of playing against loaded dice.

Between 2000 and 2014, Venezuela received more resources from China than any other country in the world. Despite being located some 14,000 kilometers away, a population of 30 million coupled with enormous energy potential, characterized by an erstwhile billion-dollar oil industry, held significant appeal to China. This, coupled with a new, nationalist political model that appeared compatible to China’s new commercial strategy, provided a catalyst for both nations to strengthen relations. Yet opacity has characterized the signing of almost 500 agreements.
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