Venezuelan President Nicolás Maduro arrived in China, marking his first visit since 2018. The visit aims to find economic help for Venezuela.
China has been a big lender to Venezuela for years. Maduro landed in the city of Shenzhen.
He said the trip would make history in a video shared on social media. Mao Ning, a Chinese spokesperson, sees the visit as a new chapter.
Maduro plans to go to other friendly nations, says Jorge Rodríguez, head of Venezuela’s parliament.
Venezuela’s Vice President Delcy Rodríguez met with China’s foreign minister, Wang Yi. Wang gave his full support to Venezuela’s national dignity.
Both countries are talking about investing in oil and starting joint ventures.
Maduro’s son also met Dilma Rousseff, a former Brazilian leader. He said the meeting was about Venezuela joining the BRICS group.
BRICS include Brazil, Russia, India, China, and South Africa.
World leaders are meeting in India right now for a G20 summit. Chinese leader Xi Jinping won’t be there.
China lent Venezuela around US$50 billion in the 2010s. Venezuela has to pay it back with oil.
The U.S. has put many limits on Venezuela. But it did approve an oil project by Chevron last year.
Talks are going on between Maduro and the Venezuelan opposition. These talks may affect U.S. decisions.
Last year, Venezuela’s economy grew for the first time in eight years. This was due to more relaxed rules and the use of U.S. dollars informally.
Yet, Maduro expects the economy to grow more than 5% by the end of next year.
Context
Maduro’s last visit to China was in 2018. Back then, he praised China’s vision for a shared global destiny.
Xi Jinping, China’s leader, visited Venezuela in 2014. Venezuela has faced economic struggles for years.
The country has one of the world’s highest inflation rates. Despite this, Maduro promises more growth and stability.