Venezuela To Borrow Cash From China

by **CHUQ** on Wed Nov 07, 2007 4:44 am

China is very active in countries with oil. thoughts?

CARACAS, Nov 6 (Reuters) - Venezuela agreed on Tuesday to borrow $4 billion from China and repay the loan with fuel, as leftist President Hugo Chavez boosts ties with the Asian economic powerhouse and seeks distance from the United States.

The former soldier has worked to reduce the OPEC nation's traditionally close ties with the United States, which depends on Venezuela for some 12 percent of oil imports, through a self-styled socialist revolution that promises to end U.S. "imperialism."

LINK

by **Tumbleweed** on Wed Nov 07, 2007 3:24 pm

Smart move on China's part.

by **CHUQ** on Thu Nov 08, 2007 4:40 am

Let me see, a change inleadership, military build-up, attain guaranteed oil sources, sounds like these guys have a plan.

by **Tumbleweed** on Thu Nov 08, 2007 1:14 pm

I have no doubt they have a plan and it seems to be an effective one so far.

by **CHUQ** on Fri Nov 09, 2007 2:35 pm

If worse came to be, the Chinese could cripple the US because they hold a lot of our papoer debt.

Venezuela To Borrow Cash From China

Venezuela To Borrow Cash From China

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