Chinese Foreign Minister Wang Yi said Beijing cannot accept any country acting as the “world’s judge” after the United States captured Venezuela’s President Nicolas Maduro.
The world’s second-largest economy has provided Venezuela with an economic lifeline since the U.S. and its allies ramped up sanctions in 2017, purchasing roughly $1.6 billion worth of goods in 2024, the most recent full-year data available.
Almost half of China’s purchases were crude oil, customs data shows, while its state-owned oil giants had invested around $4.6 billion in Venezuela by 2018, according to data from the American Enterprise Institute think tank, which tracks Chinese overseas corporate investment.
As if US would ever pay that back…
Oh we’d have to, it’s a promise of its value. If China tanks the market then they’re worthless for everyone holding one and can call on them immediately for their value. If we don’t then no one will lend us money or buy them.