As the United States continues to shape its policy toward Latin
America, China is rising as an economic and geopolitical force in the
region. China’s influence in Latin America is neither transparent nor
market oriented, and no country has felt the consequences more than
Venezuela. Through loans and outbound direct investments, China has
poured funding into Venezuela at the cost of Venezuela’s citizens and
long-term success.
China’s involvement in Venezuela stems from President Xi Jinping’s plan
to extend Chinese influence internationally. In the wake of China’s
global ambitions, it has taken advantage of a collapsed, cash-strapped
Venezuela to sign one-sided financial agreements. Inspired by
state-dominated economic systems, both Hugo Chavez and Nicolas Maduro
welcomed China’s financial support to fuel their “socialism of the 21st
Century.”
There are four main issues that should concern the United States
regarding China’s role in the Maduro-ruled Venezuela: (1) China is
propping up Maduro’s undemocratic and repressive narco-regime; (2)
China’s investments fail to bring long-term benefits to Venezuela; (3)
Chinese loans and agreements are not transparent and in some cases are
illegitimate; and (4) China’s agreements create energy and security
concerns.
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