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Page added on January 2, 2008
Chavez, China cooperate on oil, but for different reasons
The Venezuelan president touts Beijing’s $4 billion investment as another punch in his bid to undermine US clout. China is more pragmatic.
Caracas, Venezuela; and Beijing – One country’s motivation is political, the other’s pragmatic. Venezuela is seeking a strategic geopolitical alliance, China a steady supply of energy.
A new oil exploration deal between the two countries
Venezuelan President Hugo Chavez has cast the $6 billion deal as another punch in his campaign against US political and economic hegemony in world affairs.
Beijing takes a more practical view of the deal. “Wherever there is oil there are Chinese,” says Jiang Shixue, deputy director of the Institute for Latin American Studies at the China Academy of Social Sciences, a government-run think tank in Beijing. “China wants more oil and it is going all over the world” to find it.
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