China gives $20 bn to Venezuela in exchange for fuel

China gives $20 bn to Venezuela in exchange for fuel

econo mictimes.indiatimes.com

VENEZUELA: China would provide $20 billion to Venezuela for a "large volume and long term" financing plan in exchange for more petroleum, Venezuelan President Hugo Chavez has said.

China will contribute financing of $20 billion" to help with development in Venezuela under conditions that in no way have anything to do with the excessive interest rates of multilateral lending entities, such as the International Monetary Fund, Chavez said ahead of a meeting here Sunday with Chinese President Hu Jintao.

"All the petroleum that China may need to consolidate itself as a great power is here

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I know this might seem innocent on the onset. Hugo Chavez is acting in line with his ideology. He's lending a helping hand out to China. But this is China we're talking about. China doesn't just lend out money to you. They make you dependent on them. I predict Hugo Chavez will slowly but surely come to China's whims. I predict more of a "partnership" between them. What do you think about Hugo Chavez's recent actions?

econo mictimes.indiatimes.com
(visit the link for the full news article)

reply to post by Frankidealist35


I like Hugo, I really do.

If he was able to kick the Americans out of his land and take control of his country for the people, I don't see him having much trouble with China.

As far as I can tell he didn't request help, China is the one who wants oil and Venezuela has TONS of it now that they control the supply.

~Keeper

This is going to have interesting effects on political standing around the word.

Seeing as the USA doesnt like Venezuela AT ALL.

i wonder if the next earth quake will be in Venezuela?

Good investment, China...

Seeing as how they won't be getting any from Iran soon.

Maybe Hugo can get a couple of Nukes with that money.. It'd make things very simple in South America then

Originally posted by Frankidealist35
[...]But this is China we're talking about. China doesn't just lend out money to you. They make you dependent on them. I predict Hugo Chavez will slowly but surely come to China's whims.[...]

In Africa for instance, I'm sure China is more welcome than the US, because China is about mutual-benefit - Much more fair than the American way of doing business. Look it up if you don't think I'm telling the truth.

China will get cheap oil, and Venezuela will get manufactured goods and technology.

Sounds cool to me...

Originally posted by ghostsoldier

Originally posted by Frankidealist35
[...]But this is China we're talking about. China doesn't just lend out money to you. They make you dependent on them. I predict Hugo Chavez will slowly but surely come to China's whims.[...]

In Africa for instance, I'm sure China is more welcome than the US, because China is about mutual-benefit - Much more fair than the American way of doing business. Look it up if you don't think I'm telling the truth.

China will get cheap oil, and Venezuela will get manufactured goods and technology.

Sounds cool to me...

Me too

And China gets rid of some US dollars.... I believe they have 1.3 trillion of them.

In addition, you have to consider that ideologically China and Venezuela are quite akin to each other, so this was but the logical step to be taken.

It's interesting to see how many countries are falling away from the US sphere of influence (at least at the ideological level). Let's see how all this develops.

One last thing to be taken into consideration: if Israel does bomb Iran, I wonder where it will get its oil, as Venezuela and Brasil have really close ties with Iran.

reply to post by Frankidealist35


Good move from china, it is ensuring it’s self if a war should break out with Iran, for oil as well as having an Alai on the continent if it should get involved.

I only see good things from this for both countries.

I suggest people start learning Chinese because when China invades the world maybe they will save your life if you can beg in their language.

1.3 billion people and growing, now they have the oil to keep them growing. Oi vey!