China Upgrades Diplomatic Ties with Venezuela to “All-Weather” Partnership
China has announced it is upgrading its diplomatic ties with Venezuela to an “all-weather” partnership, a prestigious designation reserved for only a select few of its diplomatic partners. Venezuelan President Nicolás Maduro, who is on a state visit to Beijing, met with Chinese President Xi Jinping during the visit, which marks Maduro’s fifth as President.
A Series of Bilateral Documents
The two leaders signed a series of bilateral documents during their meeting, focusing on Belt and Road projects and cooperation in the fields of economy, trade, and education. This move underscores the commitment of both countries to further strengthen their ties and expand their collaboration. Chinese President Xi Jinping expressed China’s willingness to increase imports of Venezuelan products, according to a readout from China Central Television (CCTV).
While the details of the cooperation were not disclosed by the broadcaster, one notable aspect is that Venezuela has become the first Latin American country to join China’s International Lunar Research station. This long-term project aims to study the moon and further solidifies the countries’ partnership.
China’s Strategic Partnerships
China’s strategic partnerships, including the newly upgraded one with Venezuela, play a crucial role in its foreign policy. One of the most well-known examples of China’s all-weather partnerships is with Pakistan, where the Chinese government has invested a massive $25.4 billion over the past decade. These strategic partnerships not only contribute to the economic growth and development of the countries involved but also serve as political and diplomatic assets for China.
Venezuela’s Complex Political and Humanitarian Crisis
Venezuela has been grappling with a complex political and humanitarian crisis for the past decade, leading to approximately 7 million people leaving the country in search of better opportunities and stability. The nation heavily relies on oil as its main export, but the imposition of U.S. sanctions has further exacerbated its economic challenges. However, the Biden administration recently eased some of these sanctions, offering a glimmer of hope for Venezuela’s struggling economy.
China’s Support for Venezuela
Venezuelan President Nicolás Maduro has consistently sought support from China throughout his time in power. China has provided Venezuela with substantial loans, cash assistance, and investments totaling billions of dollars. This backing from China has helped alleviate some of Venezuela’s economic hardships and has allowed the country to navigate through its challenging political landscape.
The upgraded diplomatic ties between China and Venezuela further indicate China’s long-term commitment to assisting Venezuela in overcoming its difficulties and forging a mutually beneficial relationship.