As the situation in Venezuela continues to unfold, Phoenix TV spoke with the Director of the Dialogue’s Asia & Latin America Program Margaret Myers on China’s position regarding the ongoing Venezuelan crisis, as well as how China’s approach to the country differs from Russia’s.
COMMENTS FROM MARGARET MYERS’S:
“China differs considerably from Russia in that its investment abroad is largely pragmatic. It is largely economically-based decision-making. I think if there aren’t clear economic, or other gains, that can be derived from Venezuela, then we won’t’ see so much financial support coming from China. There are strong political ties still between the two governments, but it strikes me that much of the decision-making will be very pragmatic in nature.”
“China has been most interested in maintaining a degree of stability in the country and [until now] they [have seen] the Maduro government as able to maintain these agreements with China.”
“There’s the possibility that Venezuela will default on some of these loans. However, I do think that a future Venezuela will be largely dependent on maintaining a strong relationship with China. It needn’t be in exactly the same form, but China is the largest importer of oil, and Venezuela has the largest proven reserves of oil. There’s a natural relationship that ought to develop there.”