This article was published by The McAlvany Intelligence Advisor on Wednesday, March 6, 2019:
For years China has been bailing out Venezuela’s failed socialist experiment. At last count, Venezuela is into China for more than $70 billion. What an irony it would be if the roles were reversed!
With Maduro’s regime on the ropes, and a new president taking the reins upon his departure, Venezuela’s vast proven crude oil reserves could easily put the country back where it was just a few years ago: one of the most prosperous in South America.
The process of China becoming Venezuela is well under way, to the point where wealthy Chinese entrepreneurs are looking for a way out. That would include Chen Tianyong, a Chinese real estate developer in Shanghai, who has already left.
He explained his reasons in a 28-page article on the internet that he titled “Why I Left China – an Entrepreneur’s Farewell Admonition.” He wrote: