Sino-Venezuelan relations : Beyond oil

Sino-Venezuelan relations have witnessed an unprecedented intimacy since the beginning of Hugo Chávez's presidency in 1999. While scholars hold divergent views on the possible implications of the suddenly improved bilateral relationship, they have reached a basic consensus that oil has been the driving force. This article explores the underlying dynamics of this relationship from the Chinese perspective. It argues that oil interest actually plays a rather limited role and will continue to remain an insignificant variable in Sino-Venezuelan ties in the foreseeable future. Despite the apparent closeness of the ties in recent years, the foundation for continued improvement in the future seems far from solid. Sino- Venezuelan relations have caused serious concerns in the United States, which, for centuries, have seen Latin America as its sphere of influence. Although the neo-conservatives are worried about the deviant Chávez administration and a rising China, the chance of any direct U.S. intervention remains slim. Nevertheless, the China-U.S.-Venezuelan triangular relationship poses a challenge to the Chinese leadership in its effort to balance its various foreign policy objectives.