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Wednesday, September 21, 2016
China Rethinks Its Alliance With Reeling Venezuela
Updated Sept. 11, 2016 5:44 p.m. ET
I thought this article was interesting because I have recently made a new friend who is from Venezuela. She and her family moved to Texas a few years ago, and personally I can barely grasp feeling the need to leave my country and make a new life somewhere else. My friend has explained to me that is just not very safe, and that the quality of life and opportunities can't compare to living here in the US.
There is a large Chinese population in Venezuela, and if this large community is feeling threatened, it could be bad news for Venezuela in the long run. There are quite a few Chinese run/owned businesses, and if they do ever decide to leave, the economy would be even worse off than it already is. China has previously invested huge amounts of money in Venezuela, but if they are not able to repay loans and investments, the relationship may not continue.
It seems that Venezuela has not been appropriately using the funds, and corruption and crime are becoming a part of daily life in the country. Venezuela actually has the world's second highest murder rate, and everyone currently living there can feel the tension. The Chinese do not usually frequent places other than their work/business and their home, which is also contributing to the shrinking economy. Hopefully the Venezuelan government will be able to get a handle on things and revisit their financial situation and plan for the future. Chinese dollars have gone a long way in their country, and they should do everything they an to continue that relationship.
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