After Hugo Chavez: China's Strategic Advance in Venezuela
Thursday, April 12, 2012
3:00 - 4:30 p.m.
AEI, Twelfth Floor
1150 Seventeenth Street, NW
Washington, DC 20036
Two blocks from Farragut North Metro
This event will be livestreamed.
Evan Ellis, Center for Hemispheric Defense Studies
Vanessa Neumann, Foreign Policy Research Institute
Roger F. Noriega, AEI
In the last six years, under the cloak of Washington's indifference, the People's Republic of China has dramatically increased its participation in Venezuela's oil sector, stepping in as President Hugo Chavez displaces U.S., European and even local investors. Chinese imports of Venezuelan oil have increased tenfold in five years, while U.S. imports of Venezuela's traditional source of petroleum is one-third what it was 10 years ago. China has contributed $24 billion to Chavez's secretive slush fund over the past year and half, satisfying Caracas's desperate need for cash in exchange for oil at artificially low prices. What does China stand to lose when Chavez dies, and what will Beijing do to preserve its sweetheart deals with Venezuela? Join a panel discussion on this timely and significant topic.