Posted by seumasach on September 9, 2017
8th September, 2017
Venezuelan President Nicolas Maduro said Thursday that Venezuela will be looking to “free” itself from the U.S. dollar next week, Reuters reports. According to the outlet, Maduro will look to use the weakest of two official foreign exchange regimes (essentially the way Venezuela will manage its currency in relation to other currencies and the foreign exchange market), along with a basket of currencies.
Posted in Currency Wars | Tagged: decline of dollar, Russia venezuela alliance, venezuela-china relations | Leave a Comment »
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.
Posted in Containing China | Tagged: Chinese soft power, venezuela-china relations | Leave a Comment »
