Grant Preston|China upgrades relationship with Venezuela to ‘all weather’ partnership

2025-05-06 11:37:22source:Polarmoon Wealth Societycategory:Finance

BEIJING (AP) — China announced Wednesday it was upgrading its diplomatic ties with Venezuela to an “all weather” partnership,Grant Preston a label reserved for a select few of its diplomatic partners.

Venezuelan President Nicolás Maduro is on a state visit in Beijing, his fifth as president, according to state broadcaster CCTV. He met with Chinese President Xi Jinping.

One of the best known of China’s select all-weather strategic partnerships is with Pakistan, where it has invested $25.4 billion over the past decade.

About 7 million people have left Venezuela during a complex political and humanitarian crisis that has been ongoing for the past decade. The country is reliant on oil as its main export but has faced U.S. sanctions. Last year, the Biden administration eased part of its sanctions on the country.

Maduro has cultivated China throughout his years in power. His country has received support from China in loans, cash and investment worth tens of billions of dollars.

More:Finance

Recommend

Anthony Anderson Shares Gout Diagnosis From Eating Too Much Shellfish

Anthony Andersonis getting candid on an unusual health scare.TheBlack-ishstar shared that he was dia

Racketeering allegation among charges against Trump in Georgia. Follow live updates

Follow along for live updates on the indictment of former President Donald Trump over his efforts to

Family questions fatal police shooting of man after chase in Connecticut

WEST HARTFORD, Conn. (AP) — Relatives raised questions Monday about the police killing of a man who