Part 8/16:
One of China’s defining strategies has been the "loans-for-oil" scheme, where Venezuela receives massive Chinese loans in exchange for oil shipments. This strategy initially seemed advantageous, with Venezuela gaining immediate cash flow while maintaining access to vital resources. However, the collapse of global oil prices between 2014 and 2016 drastically altered the financial outlook. As oil revenues plummeted, Venezuela became heavily indebted to China—its economy increasingly beholden to Beijing’s financial leverage.