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China Counts a Costs of Its Big Bet on Venezuela

BEIJING—When China hatched a initial of a array of oil-for-loans agreements with Venezuela in 2007, it seemed like a ideal match. Venezuela had a world’s biggest oil reserves; China was staid to turn a biggest appetite consumer.

Twelve years and some-more than $50 billion in loans later, a domestic predicament in Venezuela is melancholy China’s payout and sketch Beijing into a substitute deadlock as it supports a Venezuelan personality a U.S. is vigilant on toppling. It is a dispute with Washington that Beijing could do without, amid…

Article source: https://www.wsj.com/articles/china-counts-the-costs-of-its-big-bet-on-venezuela-11549038825

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