By Patrick Brogan
The US has watched on with increasing concern as China and Venezuela strengthen economic ties. China is involved with a loans for oil agreement with the South American country.
China pointed out that these deals have created over 10,000 homes and benefitted over 3 million Venezuelans. The economy of the Latin American country is heavily dependent on this type of loan between themselves and China and Russia.
This comes after US Secretary of State Rex Tillerson threatened Venezuela with economic sanctions. This led Venezuela’s President, Nicolas Maduro, to claim Washington is trying to oust him so they can get their hands on his country’s oil. Tillerson is no stranger to the oil industry as he worked for Exxon in the past.
China seems increasingly prepared to move into any economic or diplomatic vacuum created by the US. This move, however, must rankle with Washington as it is now becoming more influential in the Americas.
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