China-Venezuela relations have been shaped by China's industrialization boom in the early 2000s, which created new opportunities for resource-rich trade partners in Latin America and Africa. Venezuelan President Hugo Chavez was enthusiastic about advances from China and sought new diplomatic and oil collaborations. However, both sides miscalculated the risks and rewards of a partnership focused on oil and diplomatic ties. By the time of Chavez's death, the relationship was already experiencing growing frictions. China has attempted to balance low-key support for Nicolás Maduro's government with efforts to minimize the financial and reputational damage resulting from its long-term support for Chávez and Maduro. The Venezuelan opposition has pointed to the lose-lose outcomes of the relationship, emphasizing that China still has an opportunity to make a positive contribution to Venezuelan development and peace if it changes course. The Trump administration's support for Juan Guaidó over Maduro means that Venezuela will remain a key site for the rapidly expanding strategic rivalry between the United States and China.
