Venezuela’s opposition attacks “neocolonial” China
Posted by seumasach on August 4, 2016
China is a long-term player in Venezuela’s energy future
23rd June, 2016
China’s continued financial support of Venezuela’s floundering government through oil-backed loan deals has been the subject of fierce criticism from the Venezuelan opposition, which has already taken steps towards a recall referendum to remove President Nicolás Maduro from office.
By providing a lifeline to a regime with scant financing options in order to ensure preferential access to Venezuela’s enormous oil reserves, China has been accused of acting as a neo-colonial power. The opposition has denounced that closer ties have also paved the way for an invasion of cheap, so-called “made in China” manufactured products which have negatively impacted Venezuelan industry.