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To: thackney
For some f*cking reason, China just loaned Venezuela $5 billion. Talk about throwing money down a rat hole. Maybe because their investments in the US have topped out. Or maybe they're trying to get a foothold in South America.

Whatever their reasoning, that will buy Maduro a lot of toilet paper and soap.

5 posted on 04/22/2015 5:17:24 AM PDT by HotHunt
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To: HotHunt

They likely get repaid in oil.


7 posted on 04/22/2015 5:21:06 AM PDT by thackney (life is fragile, handle with prayer)
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To: HotHunt
Or maybe they're trying to get a foothold in South America.

Trying? Foothold? They are past that.

Venezuela has received $5bn (£3.4bn) in financing from China, Venezuelan President Nicolas Maduro says....

Mr Maduro visited Beijing in January and said at the time that China would invest more than $20bn in Venezuela....

Loans by China's state-owned banks to Latin American countries rose by 71% to $22bn (£14bn) in 2014, according to estimates published by the China-Latin America Finance Database.

http://www.bbc.com/news/world-latin-america-32381250

- - - - -

Xi said on Thursday China would invest $250bn in Latin American countries over the next decade. The move is part of an attempt by Beijing to boost its influence in a region that tends to look to the US as its largest trading partner.

Beijing has extended $50bn of credit to Venezuela since 2007, mostly in exchange for oil shipments. The country exports about 600,000 barrels of oil to China a day, nearly half of which go towards repaying its loans.

http://www.theguardian.com/world/2015/jan/08/china-venezuela-20bn-loans-financing-nicolas-maduro-beijing

9 posted on 04/22/2015 5:27:16 AM PDT by thackney (life is fragile, handle with prayer)
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