China Ruins US Plans to Bring Venezuela to Its Knees

Ekaterina Blinova 

SPUTNIK - 11.04.2015

China is counterbalancing the US' efforts to bring Venezuela to its knees: Beijing will lend Caracas around $10 billion while the country teeters on the brink of bankruptcy.  While the United States is waging an "economic war" against Venezuela and its President Nicolas Maduro, China is likely to obliterate Washington's plans to bring the Latin American nation to its knees; Beijing will lend Caracas around $10 billion in order to support the country's economy.  On March 9, 2015, US President Obama issued an Executive Order declaring Venezuela "an unusual and extraordinary threat to the national security and foreign policy of the United States."  The Venezuelan government has also come under pressure from its opposition, as protest rallies have been taking place in Caracas since last year.  Venezuela is teetering on the verge of bankruptcy, facing the threat of sovereign default. The fall in oil prices is adding fuel to the fire.

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