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Published 8 months ago

China upgrades relationship with Venezuela to 'all weather' partnership

  • During Venezuelan President Nicolás Maduro's state visit to Beijing, China upgraded its relationship with Venezuela to an "all-weather" partnership, signing bilateral documents for Belt and Road projects and cooperation. This marks a significant development in their international relations.
  • Over the past decade, China has provided Venezuela with loans, cash, and investment worth tens of billions of dollars, supporting its economy. Additionally, China is willing to increase imports of Venezuelan products as part of their cooperation. Venezuela's reliance on oil as its main export has contributed to its economic challenges.
  • China's select all-weather strategic partnerships have included investments in Pakistan and their support has provided crucial financial assistance to Venezuela during its ongoing political and humanitarian crisis. The severity of the crisis can be seen in the fact that 7 million people have left the country.
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