What would Hugo Chávez do without China? From cheap fridges for the poor to life-saving state-to-state loans, help with building essential housing to massive investments in major oil projects, there’s scarcely an area of Venezuela’s economy where China doesn’t play a key role.

However, while there’s no question that China’s help is of great importance for Chávez – not least given a deterioration in relations with the private sector and countries that have more traditionally been keen to invest in Venezuela, like the US – some doubt whether he is always cutting the best deal. Continue reading »