ASIAdocument.write(“” + m[today.getMonth()+1]+ ” “+ today.getDate()+”, ” + theYear + ” “);HOMECHINAWORLDBUSINESSLIFESTYLECULTURETRAVELSPORTSOPINIONREGIONALFORUMNEWSPAPERChina Daily PDFChina Daily E-paperChina Daily Global PDFChina Daily Global E-paperOpinion / Opinion LineEditorialsOp-EdColumnistsContributorsCartoonsSpecialsFrom the PressForum TrendsTalk from streetDebateEditors Pick:Syrian refugeescyberspaceV-Day paradeshrimp scandalTPPMisreading the Venezuela move(China Daily) Updated:2016-06-22 08:06Comments Print Mail Large Medium SmallVenezuelas President Nicolas Maduro speaks during a national TV broadcast in Caracas in this March 9, 2015 picture provided by Miraflores Palace. [Photo/Agencies]Some Western media outlets have reported that China recently sent an “unofficial envoy” for talks with Venezuelas opposition party to ensure its loans to the country are recognized after President Nicolas Maduro steps down and claimed the move marks a shift in Beijings attitude toward Caracas.
The continuous political turbulence in Venezuela has made the international community pessimistic about the Maduro governments survival. So it is natural for Chinese people to be worried about the safety of Chinas loans to Venezuela. But it is wrong to interpret Chinas gesture as a shift in attitude toward Venezuela, because Beijing is unlikely to reverse its friendly ties with Caracas.
China has for long kept in touch with opposing forces in other countries. So even if China has contacted the Venezuelan opposition, there is no reason to brand it a “hurried move” to retrieve its loans. Also, it is not unusual for one country to keep in touch with different political parties in another country.
Considering Venezuelas huge oil reserves, the oil-for-loan deal Caracas has signed with Beijing is basically safe. Friendly cooperation with China is Venezuelas strategic choice and goes beyond partisan interests. And most Latin American countries use their ties with China to geo-strategically balance their ties with the US.
Even should Venezuela suffer a collapse, the loans extended by China and other international lenders will be secure, although the possibility of the resource-rich Latin American country collapsing is extremely remote. Recovering oil prices indicate Venezuela will overcome its ongoing economic hardship.
And since China has generally received more benefits than losses from its all-round economic cooperation with other countries over the past decades, it would be myopic to consider the loans China offers to other countries as squandering of State money.0Related StoriesNo Chinese casualties in recent rioting and looting in VenezuelaChina, Venezuela agree to increase flexibility in financing cooperation: spokesmanVenezuela extends emergency decree again200,000 Chinese in Venezuela take it as second motherland: AmbassadorMost Viewed Todays Top NewsWus death was untimely but his legacy will live onUKs trade costs of leaving EU very highIllegal dog meat trade societys common enemyHigh hopes from soccer clubsHK opposition cries wolf over fictional abductionsForum TrendsFathers Day storyWho cares for left-behind children?Do Chinese women obsess over foreign men?Why is e-commerce so successful in China?Is it rude to eat on mass transit?Tips to manage stress when studying abroadWhy are Chinese students heading to the US?ColumnistsConfrontational and zero-sum mindset harms relationsRacism comes out in the washFeatured ContributorsBrexit debate hinges on Britains grand vision for its role in the worldChinas soft power approach: Hits and missesStar BloggersQuality of Chinese healthcare By MichaelMTwo days ago, I returned home from a 13 day stay in the hospital in Zhengzhou. I was admitted to Central Hospital of Zhengzhou on June 3. I had surgery the next morning and another one 10 days later.My best friend in China: 35th anniversary of China Daily By subeChina Daily is like a friend who stays with me in every mood in my life. If I am happy, I can write a blog and if I am upset, I can enjoy what others have said and let my feelings go away.China Daily, 35 years on: my memories By aixiI first discovered China Daily a few years ago. It was my first visit to China, and I was waiting for my tour guide to arrive.SpecialMy China Story MeetupChina Daily, 35 years on: your memoriesPositive energy Leifeng laowai story…| About China Daily | Advertise on Site | Contact Us | Job Offer | Expat Employment |Copyright 1995 -var oTime = new Date();
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