Venezuela Asks China For Help As Riots, Electricity Rationing Take Toll on Oil Production
Venezuela is currently caught in a self-defeating death spiral, with declining oil production leading a circular chain reaction that crushes hope that the government can quickly emerge from trouble. What might result is a change in government, which is one reason the country’s Chinese backers are none too eager to providing a financial lifeline – for fear that they are throwing good money after bad. A key component of the crisis, a Barclays report notes, is that electricity rationing, which primarily impacted Venezula’s general population first, is . . .
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