Firstly, most Westerners are incapable of understanding the Eastern (primarily Russian or Chinese) mentality. They’ve been conditioned by their politicians, msm and fear mongering fellow citizens to think China is aiming to take over the world and enslave everyone – as if the US hadn’t already done this throughout the world, with its endless wars and colour revolutions. They generally mistrust China because they assume that China is cynical, like Western countries, and only wants to exploit the client countries that China invests in. But this is not true. If it were, there would not be so many countries turning their backs on US influence and accepting Chinese investment. China, unlike the West, wants to have prosperous trading partners, not poverty-stricken debt slaves.
Let us take Zambia, for example. China is investing in Zambia in a way that is completely different from the other countries that invest in it. China was the only country that invested in Zambian infrastructure in a way that developed the country and allowed it to increase its productivity. The others simply invested in its resources, particularly copper, and left it caught in a debt trap. But Zambia had a problem with its copper extraction. That is, it had a shortage of electric power needed for mining operations. The other countries that invested there did absolutely nothing to resolve this problem. But China invested in a hydroelectric project that enabled mining operations to increase their productivity significantly. But the West ignores this major merit of Chinese investments and continues to slander the Chinese investors, saying they are just exploiting Zambia, just like the Western investors.
In Venezuela, China is using the same approach as in Zambia. Since Venezuela had poor infrastructure for processing its crude oil, China is investing over a billion dollars in facilities for refining Venezuelan crude oil. The target is to make Venezuela capable of selling many more millions of barrels of crude oil per day. No other country had the foresight to do this. Westerners think in terms of the short term. China is a long-term thinker. The western investors were all focused on exploiting the crude oil, but not helping Venezuela increase its production. This is why the Western investors all failed to make Zambia prosperous enough to get out of debt.
Western propagandists who want Venezuela to fail in order to bring the country under the control of the US are saying that China will not continue to help Venezuela because Venezuela has a history of not paying its debts. But Venezuela did not intentionally renege on its debts. For several years running, the oil prices were so low that Venezuela could not earn a profit from its oil fields. But about a year ago, the oil price rose drastically, and now oil companies everywhere are making profits. China knows that, thanks to these higher prices, an investment in Venezuelan oil refineries promises to be lucrative for both China and Venezuela. Therefore, Venezuela has concluded a mutually beneficial agreement with the Chinese lenders whereby Venezuela will never need to pay back its debt in money. China, as a country with a voracious appetite for oil and as an investor in oil, will simply repay itself with oil. Venezuela will never be in debt to China again under this agreement. Unless, of course, the US invades the country and destroys its new infrastructure.