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Title : What Does China Have To Lose In Venezuela?
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What Does China Have To Lose In Venezuela?

Chinese President Xi Jinping (2nd R) and his wife Peng Liyuan (1st R) pose for a group photo with Venezuelan President Nicolas Maduro (2nd L) and his wife in Beijing, capital of China, Sept. 14, 2018. Xi held talks with Maduro in Beijing on Friday. (Xinhua/Ju Peng)

SCMP: From oil to infrastructure, why China has plenty to lose from political turmoil in Venezuela

* Caracas needs Chinese loans and investment in various sectors, but the relationship offers mutual benefits
* Instability and a struggling economy in the South American country have already cost Beijing dearly

Venezuela’s political crisis appears to be reaching boiling point, with opposition leader Juan Guaido and President Nicolas Maduro each backed by different world powers.

Maduro, who has been in power for six years, claimed victory in a presidential election last May that was called invalid by his rivals after he barred opponents from running and drew a 46.7 per cent turnout, the lowest in the country’s democratic era.

Guaido, the president of the legislature, declared himself interim president on January 23 and has promised to call elections. Following US President Donald Trump, European countries have recognised him as de facto head of state, heightening international pressure on the troubled country.

But despite overseeing an economic collapse and the exodus of millions of Venezuelans, Maduro retains the critical support of the military and the powerful backing of Russia, China and Turkey.

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WNU Editor: The current Chinese position on Venezuela is the following .... China says 'peaceful dialogue' only way to solve Venezuela crisis; Beijing has lent Meduro regime $65 billion in last decade (First Post/AP). And even though the Venezuelan opposition is saying that they will respect Venezuela's debts to China, I am sure the Chinese are worried.

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