Skip to comments.Venezuela's Maduro travels to China in search of fresh funds
Posted on 09/12/2018 11:22:27 PM PDT by Olog-hai
Venezuelan President Nicolas Maduro is traveling to China to discuss economic agreements, as the crisis-struck OPEC nation seeks to convince its key Asian financier to disburse fresh loans. [ ]
Venezuelas Information Ministry did not respond to a request for comment.
Chinas Foreign Ministry, in a brief statement carried by the official Xinhua news agency, said Maduro would visit from Thursday until Saturday at the invitation of President Xi Jinping. It gave no other details. [ ]
CNPC is a major investor in oil and gas exploration in Venezuela and also a top lifter of Venezuelan oil under the government-to-government loans for oil deals.
Over a decade, China plowed more than $50 billion into Venezuela through oil-for-loan agreements that helped Beijing secure energy supplies for its fast-growing economy while bolstering an anti-Washington ally in Latin America.
The flow of cash halted nearly three years ago, however, when Venezuela asked for a change of payment terms amid falling oil prices and declining crude output that pushed its state-led economy into a hyperinflationary collapse.
(Excerpt) Read more at reuters.com ...
They already put the oil up as collateral for a massive bitcoin investment.
Mr Maduro and his friends might want to consider not returning to Venezuela.
Venezuela’s Maduro travels to China in search of fresh food...
Fortunately, Venezuela is now an infinite money pit I don’t think the Chinese can effectively subvert.
Now’s the time to overthrow the regime when the dictator is out of the country.
Agreed on the Monroe Doctrine, but the free traitors, while in bed with foreign communist enemies, set that foreign policy even further back. I’m sure that China will offer some kind of deal to Venezuela sooner or later (like permanent rights to some oil and land, maybe a base or two,...).
I heard from British radio before midnight, that some in British leadership were seeing their error in not having made way more for production on British soil. They’re afraid of market crashes in the near future from balance of payments deficits (so-called free trade), resulting increasing piles of debt, etc.
He will not live long. Better find a way to stash his millions in a foreign land and seek a new place.
“...Venezuela is now an infinite money pit...”
Hugo sold out Venezuelans to Cuba long ago. Cuban “volunteers” run internal security forming something more odious than a fifth-column extending down to “block captain” level. Medical services are also operated by Cubans. And Manuro has welcomed Islamic players to some extent.
So, a greater question might be, who doesn’t Venezuela owe? If China throws good money after bad, they might first ask themselves “how do we take out the trash...and where do we put it”.
Here’s China’s chance to own a South American country and expand their territory past those newly made islands.
Ran out of other people’s money, so now looking for new people. They already sold 49% of Citgo to Russia, and their creditors are taking what there is of that here, so what’s left? Lease China an airbase? Let them build “Chinese” islands off the coast?
Former colonies in Africa are returning to that status, with Red Chinese masters.
But if the Chinese purchase the whole country and run it? Should go for under $500 to buy.
Mr Maduro and his friends might want to consider not returning to Venezuela.”””
My first thought was that is the real plan.
Money comes from PRODUCTION. People working and producing things, manufacturing, farming, and intellectual property. When the government seizes control of the means of production no one has any incentive to work or produce, and the country goes to hell.
Going to China with hat in hand begging for money won’t solve his problems.
North Korea’s an infinite money pit too.
The reason I mentioned the Monroe Doctrine is due to how much closer to the USA Venezuela is versus NK.
Monroe Doctrine certainly applies. The question is, when and how?
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