Chinese Foreign Minister Wang Yi said Beijing cannot accept any country acting as the “world’s judge” after the United States captured Venezuela’s President Nicolas Maduro.
The world’s second-largest economy has provided Venezuela with an economic lifeline since the U.S. and its allies ramped up sanctions in 2017, purchasing roughly $1.6 billion worth of goods in 2024, the most recent full-year data available.
Almost half of China’s purchases were crude oil, customs data shows, while its state-owned oil giants had invested around $4.6 billion in Venezuela by 2018, according to data from the American Enterprise Institute think tank, which tracks Chinese overseas corporate investment.
Eeeeh I’m not so sure about that anymore.
I suspect losing trading partners is the biggest deterrent. As soon as controlling the supply of Taiwanese microchips becomes more financially viable than making billions of tons of cheap goods every year, China will take Taiwan. And the US naval fleet will either be cruise missiled to the bottom of the ocean or we’ll just quietly walk back our threats to defend it.