Rantings and tirades of a frustrated economist.
The Chinese are actually dumb enough to throw money at an effort like that? Guess they're not as smart as I thought they were. Then again, a country that tries to pick fights with other nations while their army is staffed with glorified boy scouts for soldiers and Communist Party officials with no military training as generals should not be seen as the apex of intelligence.
Sounds like China bought a lot of crude oil from a failing state for cheap. Rulers will always extend and pretend to keep the status job, corner office and other perks. The clever Chinese are just vulturing off the corpse before it is completely dead :-)
I think maybe China just bought an oil producing nation at the Socialist Fire Sale.
China has been slowly making itself an imperial power. Venezuela has oil. China wants oil.Replacing their trash paper with Chinese Yuan would be a marked improvement there.
I gather that China is testing a new foreign aid policy and is using Venezuela as a test (basket) case. My contacts inside of Venezuela tell me that inflation has reached the point where merchants are now demanding payment for goods and services in the form of credit/debit card transactions because they don't want to deal with/don't have the physical space for the large amounts of cash now required for even the simplest of transactions (the bolivar is fast approaching the toilet paper status of the 1923 Weimar Deutschmark).
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