China fears for its billions in the Venezuela crisis

Officially does not want to interfere in Beijing in Venezuela and supports the head of state, Maduro. The largest lender in the country insists, however, that the situation stabilizes soon - no matter how.

Axel Dorloff, ARD Studio in Beijing

For China is Venezuela on the game: billion loans and investments, strategic large-scale projects in the name of the New silk road. In recent years, China has invested heavily in the country and is considered the largest creditors of Venezuela. Experts estimate that the amount of the Chinese loans between 2007 and 2017 to about $ 60 billion. Venezuela should pay for in part by Oil deliveries back, but can not meet its obligations due to high production losses. About $ 20 billion were not yet due and payable, writes the Chinese financial magazine Caixin. Other experts estimate the figure to be even higher. China has been worried, therefore, his billions and therefore relies more on head of state Maduro. The spokesman of the foreign Ministry in Beijing, Geng Shuang, criticized both interference and sanctions:

"China stands firmly for the principle of Non-interference in the internal Affairs of other countries. For us, it remains the case that Only the Venezuelan people themselves can determine his own future. We are against unilateral sanctions, they make the Situation only more complicated and do not help to solve the practical problems. You only lead to a deterioration in the living conditions of the people in Venezuela. The countries that impose sanctions, to take responsibility."

This attitude has reaffirmed the people's Republic in the UN security Council. Together with Russia, China has a statement in support of the self-proclaimed Venezuelan interim President Juan Guaidó blocked. For justification of the Chinese UN Ambassador in New York, Ma Zhaoxu, China has always been a matter of principle against interference in the internal Affairs of other States. Also, in the case of Venezuela this was no different.