Since the US military operation in Venezuela, the Chinese government has been busily assessing the situation and calculating potential losses to its economic interests. On Wednesday and Thursday, Chinese officials, media and commentators started expressing their views, showing that Beijing has finished its assessment.
In general, Beijing regrets having put too many eggs in one basket and having been too ready to believe that its investments in Venezuela would face minimal risks under international law. It also admits that it had underestimated the Trump administration’s ambition in the Western Hemisphere.
Some commentators are saying that, in the short run, China wants to ensure it can continue receiving crude oil from Venezuela, which still owes it about US$10 billion to US$20 billion. In the middle and long term, China may seek to sell certain fixed assets in Venezuela to Western firms or form partnerships with them to limit losses.
