Big Take How Venezuela Shifts China’s Calculus
15 snips
Jan 6, 2026 Jenni Marsh, a Senior Bloomberg reporter covering China's economy and politics, dives into the ramifications of the US strike on Venezuela. She discusses China's bewildered reaction and the strategic importance of Venezuelan oil to Beijing. Marsh explores the potential shifts in China's influence in Latin America and whether Venezuela could serve as a blueprint for Taiwan. The conversation also touches on military implications and the urgent modernization of China's armed forces in response to US actions.
AI Snips
Chapters
Transcript
Episode notes
China Was Caught Off Guard
- China was stunned and issued an unusually swift, strong condemnation of the U.S. action in Venezuela.
- Jenni Marsh says the reaction reflected Beijing being caught off guard and worried about intelligence failures.
Venezuela Oil Keeps Chinese Margins Low
- Venezuela supplied China with discounted, high-sulfur crude used by independent Chinese refiners.
- Jenni Marsh notes it accounts for about 4% of China's oil imports but helps lower refining costs.
Chinese Claims In Venezuela Are At Risk
- Chinese firms hold claims and investments in Venezuelan oil and infrastructure tied to large loans.
- Marsh warns U.S. control of assets without a roadmap risks destabilizing China's long-term relationship and investments.