Journal of Asia-Pacific Studies 2023 KCI Impact Factor : 0.61
-
pISSN : 1225-8539 / eISSN : 2671-5171
- https://journal.kci.go.kr/japs
KJCKorea
Journal Central
China’s Cautious Approach to the Venezuelan Crisis: Strategic Overdraft and Nonintervention Principle
- Journal of Asia-Pacific Studies
- Abbr : JAPS
- 2021, 28(4), pp.39-81
- DOI : 10.18107/japs.2021.28.4.002
- Publisher : Institute of Global Affairs
- Research Area : Social Science > Social Science in general
- Received : September 17, 2021
- Accepted : December 5, 2021
- Published : December 30, 2021
YUE;WU 1
1Pusan National University
Accredited
ABSTRACT
The current China–Venezuela relationship adheres to the South-South cooperation (SSC) model wherein the two countries have established an integrated cooperative approach with “loan-for-oil” deals at its core; however, in contrast with its recent softening stance on interventions, China has taken a cautious approach to the crisis in Venezuela since 2014. Nevertheless, not many studies highlight the reasons for China’s cautiousness. This paper tries to mitigate the gap by examining China’s strategic overdraft as exposed by this response and exploring the challenges in SSC model. It is herein argued that dual overdrafts of material power and credibility constitute the reason for China’s nonintervention in Venezuela. Meanwhile, as the country hoped to continue its presence in Venezuela and is concerned over the overdraft credibility risk by withdrawing, it chose adopt hedging as a form of flexible involvement. To avoid a similar situation in the future, China should neither rely on economic complementarity nor rigidly stick to nonintervention. With national economic and political interests and cooperative sustainability as a guide, China should clarify and redefine its nonintervention principle and adopt preventive measures for risk assessment and cooperation practices to innovate a more sustainable SSC model.
Statistics
-
369 Viewed
-
72 Downloaded
Tools
Issue List
Citation status
* References for papers published after 2023 are currently being built.
[book]
Brautigam, D.
/ 2008
/ China’s African Aid Transatlantic Challenges
/ German Marshall Fund of the United States
[book]
Burbach, R.
/ 2004
/ Imperial Overstretch: George W. Bush and the Hubris of Empire
/ Fernwood Publishing
[journal]
Cui, S. J.
/ 2016
/ Tanxi Zhongguo Yu Weineiruila Nengyuan Hezuo [Exploration of Energy Cooperation between China and Venezuela]
/ Contemporary International Relations
(2)
: 47~53
[journal]
Dosch, J.
/ 2012
/ China and Latin America : Complementarity, Competition, and Globalization
/ Journal of Current Chinese Affairs
41(11)
: 3~19
[journal]
Gao, C
/ 2017
/ Zhongguo Zuowei Jueqi Daguo de ‘Zhanlue Touzhi’ Wenti Tanxi [An Analysis of China’s ‘Strategic Overdraft’ as a Rising Power]
/ Journal of Strategy and Decision-Making
(3)
: 49~55
[journal]
Giacalone, R.
/ 2013
/ The Chinese-Venezuelan Oil Agreements : Material and Nonmaterial Goals
/ Latin American Policy
4(1)
: 76~92
[journal]
Hao, Z. D
/ 2019
/ Weineiruila, Zhongguo Youqi Guoji Saichang Diyizhan [Venezuela, the First Stop of International Competition for Chinese Oil Companies]
/ China Petrochem
(7)
: 72~75
[journal]
He, T.
/ 2016
/ Qianxi WeineiRuila Jingji Weiji de Qishi [A Brief Analysis of the Enlightenment of Venezuela’s Economic Crisis]
/ Economics & Trade
(8X)
: 93~
[journal]
Hirono, M
/ 2019
/ China’s Conflict Mediation and the Durability of the Principle of Non-Interference: The Case of Post-2014 Afghanistan
/ The China Quarterly
239
: 614~634
[journal]
Hirono, M.
/ 2019
/ China’s New Roles and Behaviour in Conflict-Affected Regions: Reconsidering Non-Interference and Non-Intervention
/ The China Quarterly
239
: 573~593
[journal]
Hsiang, A. C.
/ 2016
/ Power Transition: The U.S. vs. China in Latin America
/ Journal of China and International Relation
(Special Issue)
: 44~72
[journal]
Kurita, M.
/ 2021
/ How Far Away from Non-Interference? A Case Study of China’s Development Initiative in Pakistan
/ Journal of Contemporary China
: 1~16
[journal]
Lanteigne, M.
/ 2019
/ China’s UN Peacekeeping in Mali and Comprehensive Diplomacy
/ The China Quarterly
239
: 635~655
[journal]
Li, B. J
/ 2014
/ Zhongguo Buganshe Zhengce de Yanbian Guocheng [The Evolution of China’s Non-Intervention Policy]
/ Seeker
2
: 50~53
[journal]
Liu, F
/ 2017
/ Zhanlue Touzhi: Yixiang Gainian Fenxi [Strategic Overdraft: A Conceptual Analysis]
/ Journal of Strategy and Decision-Making
(3)
: 25~30
[journal]
Lu, R. Q.
/ 2018
/ Zhongwei Shiyou Hezuo de Lishi Beijing, Chengguo He Tiaozhan [Historical Background, Achievements and Challenges of China-Venezuela Oil Cooperation]
/ Contemporary International Relations
(8)
: 17~22
[journal]
Lu, R. Q.
/ 2018
/ Zhongguo Yu Weineiruila Shiyou Hezuo:Tiaozhan Yu Fansi [Oil Cooperation between China and Venezuela:Challenges and Reflections]
/ Contemporary International Relations
(3)
: 50~55
[journal]
Ma, H
/ 2019
/ Weineiruila Bianju Zhong de Zhongwei Shiyou Hezuo Jizhi [China-Venezuela Oil Cooperation Mechanism in the Changing Situation in Venezuela]
/ Sinopec Monthly
(3)
: 73~76
[journal]
Mansour, I.
/ 2019
/ Treading with Caution: China’s Multidimensional Interventions in the Gulf Region
/ The China Quarterly
239
: 656~678
[journal]
Mijares, V. M.
/ 2017
/ Soft Balancing the Titans: Venezuelan Foreign-Policy Strategy Toward the United States, China, and Russia
/ Latin American Policy
8(2)
: 201~231
[book]
Mijares, V. M.
/ 2020
/ China’s Interactions with Latin America and the Caribbean: Conquering the US’s Strategic Backyard?
/ Tectum Verlag
: 107~132
[journal]
Pang, Z. Y.
/ 2009
/ China’s Non-Intervention Question
/ Global Responsibility to Protect
1(2)
: 237~252
[book]
Ping, A.
/ 1999
/ Agencies in Foreign Aid
/ Palgrave Macmillan UK
: 156~201
[journal]
Rosales, A.
/ 2018
/ China and the Decaying of Socialist Rentierism in Venezuela : Instability and the Prevalence of Non-Interventionism
/ Third World Thematics : A TWQ Journal
3(4)
: 552~568
[book]
Sanderson, H.
/ 2013
/ China’s Superbank: Debt, Oil and Influence-How China Development Bank Is Rewriting the Rules of Finance
/ John Wiley & Sons, Inc
[journal]
Shi, Y. H.
/ 2015
/ Traditional Chinese Experience and Contemporary Chinese Practices: Issues of Strategic Adjustment, Strategic Overdraft and Great Rejuvenation
/ Foreign Affairs Review
32(6)
: 1~21
[journal]
Sørensen, C. T. N.
/ 2019
/ That Is Not Intervention; That Is Interference with Chinese Characteristics : New Concepts, Distinctions and Approaches Developing in the Chinese Debate and Foreign and Security Policy Practice
/ The China Quarterly
239
: 594~613
[journal]
Sun, X. F
/ 2017
/ Zhanlue Xuanze Yu Jueqi Guo de Zhanlue Touzhi [Strategic Choice and Strategic Overdraft of the Rising Power]
/ Journal of Strategy and Decision-Making
(3)
: 32~41
[journal]
To, E. Mi. Y. H.
/ 2019
/ China and Venezuela: South-South Cooperation or Rearticulated Dependency?
/ Latin American Perspectives
46(2)
: 126~140
[journal]
Wang, J. W.
/ 2019
/ Xi Jinping’s ‘major Country Diplomacy’ : A Paradigm Shift
/ Journal of Contemporary China
28(114)
: 15~30
[journal]
Wang, P
/ 2020
/ Telangpu Qianghua Dui Weineiruila Zhicai, Maduluo Neng Dingzhu Ma? [Can Maduro Survive Trump’s Tightening Sanctions on Venezuela?]
/ World Affairs
(9)
: 54~55
[journal]
Wang, Y. Z
/ 2013
/ Chuangxin Buganshe Yuanze, Jiada Baohu Haiwai Liyi de Lidu [Innovate the Principle of Non-Intervention and Strengthen the Protection of Overseas Interests]
/ The Journal of International Studies
(2)
: 1~5
[journal]
Xie, W. Z.
/ 2019
/ Review on China-Venezuela’s Bilateral Relations in the 70th Anniversary of the P.R.C
/ Journal of Latin American Studies (Bimonthly)
41(5)
: 19~41
[journal]
Yakovlev, P. P.
/ 2019
/ USA and China in Latin America: Contours of Competition
/ Vestnik RUDN. International Relations
19(1)
: 47~58
[journal]
Yan, X. T
/ 2017
/ Waijiao Zhuanxing, Liyi Paixu Yu Daguo Jueqi [Diplomatic Transformation, Sequence of Interests, and Rise of Great Powers]
/ Journal of Strategy and Decision-Making
(3)
: 4~11
[journal]
Zhang, J
/ 2020
/ Quarterly Journal of International Politics
/ Quarterly Journal of International Politics
5(2)
: 51~83
[journal]
Zhang, W. Y.
/ 2021
/ Guoji Xinyu, Guoji Shili Yu Dongnanya Zhanlue Xuanze [International Credibility, National Power, and Strategic Choice of Southeast Asia]
/ Quarterly Journal of International Politics
6(1)
: 56~92
[journal]
Zheng, C.
/ 2016
/ China Debates the Non-Interference Principle
/ The Chinese Journal of International Politics
9(3)
: 349~374
[journal]
Zhou, F. Y
/ 2017
/ Fenfa Youwei de Shouyi Yu Chengben—Jianlun Zhanlue Touzhi de Xingzhi Yu Panduan [Striving for Achievement—On the Nature and Judgment of Strategic Overdraft]
/ Journal of Strategy and Decision-Making
(3)
: 56~68
[journal]
Zhou, L. S.
/ 2017
/ Weineiruila Jingji Weiji Yuanyin Ji Qishi [Causes and Enlightenment of Venezuela’s Economic Crisis]
/ Industrial & Science Tribune
16(6)
: 89~92
[other]
Chen, J. M.
/ 2015
/ Zhongguo Waijiao Ying Jingti Zhanlue Touzhi Fengxian [China’s Diplomacy Should Be Alert to the Risk of Strategic Overdraft]
/ Zhongguo Guofang Bao [China National Defense News]
[other]
Ferchen, M.
/ 2014
/ China’s Shaky Latin American Liabilities
/ The National Interest
[other]
/ 2018
/ Chengren Xianxing Zhengce Shibai, Maduluo Zaitui Wuda Jingji Huifu Yu Zengzhang Cuoshi [Acknowledging the Failure of Current Policies, Maduro Pushed for Five More Measures to Revive the Economy]
/ Sina
[other]
/ 2018
/ Exclusive: Venezuela Faces Heavy Bill as Grace Period Lapses on China Loans– Sources
/ Reuters
[other]
/ 2020
/ Exclusive: Venezuela Wins Grace Period on China Oil-for-Loan Deals, Sources Say
/ Reuters
[other]
/ 2019
/ Guayiduo Tuandui:Weineiruila Fanduipai Yu Zhongguo He Eluosi Jinxing Chubu Jiechu [Guaido’s Team: Venezuelan Opposition Makes Preliminary Contacts with China and Russia]
/ RFI
[other]
/ 2018
/ Tamen Qian Zhongguo de Qian, Haineng Huanshang Ma? [Will They Be Able to Pay Back the Money They Owe China?]
/ Global Times
[other]
/ 2017
/ Venezuela Publishes Oil Prices in Chinese Currency to Shun U.S. Dollar
/ Reuters
[other]
/ 2019
/ Venezuela’s Juan Guaido Asks China and Russia to Back Him
/ Nikkei
[other]
/ 2018
/ Venezuela’s Maduro Travels to China in Search of Fresh Funds
/ Reuters
[other]
/ 2015
/ Waijiaobu Huiying Yanqi Huishou Weineiruila Daikuan Baodao: Liangguo Hezuo Zhengchang [The Ministry of Foreign Affairs Responded to the Report on the Extension of Venezuela’s Debt: Cooperation between the Two Countries Is Normal]
/ China Daily
[other]
/ 2019
/ Weineiruila Shiyou Jiaoyi Shixian Renminbi Jijia Daiti Meiyuan Jijia [Venezuela’s Oil Transactions Are Denominated in RMB Instead of U.S. Dollars]
/ CNPC
[other]
/ 2019
/ Zhongguo Daibiao: Fandui Waibu Shili Ganshe Weineiruila Neizheng [Representative of China: Oppose Intervention by External Forces in Venezuela’s Internal Affairs]
/ Xinhuanet
[other]
/ 2014
/ Zhongguo He Weinriruila Jianli Quanmian Zhanlue Huoban Guanxi de Lianhe Shengming [Joint Statement between China and Venezuela on the Establishment of Comprehensive Strategic Partnership]
/ People’s Daily
[other]
/ 2015
/ Zhongguo Shizhong Jiang Zhoubian Zhiyu Waijiao Quanju de Shouyao Weizhi [China Has Always Placed Its Neighborhood at the Top of Its Diplomatic Agenda]
/ Xinhuanet
[other]
/ 2018
/ Zhongguo Xiang Weineiruila Zaishen Yuanshou, Xi Jinping Maduluo Geyou Suotu [China Extends a Helping Hand to Venezuela, Xi Jinping and Maduro Have Their Own Plans]
/ BBC
[other]
/ 2018
/ Zhongwei Liangguo Qianshu Gongjian Yidaiyilu Hezuo Wenjian [China and Venezuela Signed a Cooperation Document on Jointly Building the Belt and Road]
/ Xinhua Silk Road
[other]
/ 2020
/ Zhu Maduluo Zhengfu Zhongguo Guoqi Zao Meiguo Zhicai [U.S. Sanctions on Chinese State-Owned Enterprises for Helping the Maduro Administration]
/ DW
[web]
CCIEE
/ 2010
/ Zouchuqu Zhanlue Yao Fangda ‘Weineiruila Moshi’ [Going Out Strategy Should Enlarge ‘Venezuela Model’]
/ http://www.cciee.org.cn/Detail.aspx?newsId=3210&TId=231
[web]
China Embassy in Venezuela
/ 2000 Nian Yilai Zhongguo He Weineiruila Shuangbian Maoyie Tongji [Statistics of Bilateral Trade between China and Venezuela since 2000]
/ http://ve.china-embassy.org/chn/smwl/qian410/t216005.htm
[web]
China State Council
/ 2010
/ Zhongshiyou Yu Weineiruila Qianshu Shiyou Ji Changqi Rongzi Hezuo Xieyi [China National Petroleum Corporation and Venezuela Signed an Oil and Long-Term Financing Cooperation Agreement]
/ http://www.gov.cn/jrzg/2010-04/19/content_1586722.htm
[web]
China State Council
/ 2014
/ Zhongguo He Weineiruila Jianli Quanmian Zhanlue Huoban Guanxi de Lianhe Shengming [Joint Statement on the Establishment of Comprehensive Strategic Partnership between China and Venezuela]
/ http://www.gov.cn/xinwen/2014-07/22/content_2721652.htm
[web]
China State Council
/ 2021
/ China’s International Development Cooperation in the New Era
/ http://english.www.gov.cn/archive/whitepaper/202101/10/content_WS5ffa6bbbc6d0f72576943922.html
[web]
EIA
/ 2020
/ Venezuela Executive Summary
/ https://www.eia.gov/international/analysis/country/VEN
[web]
Ferchen, M.
/ 2014
/ China-Latin America Relations: Creative Engagement Versus Non-Intervention
/ https://carnegietsinghua.org/2014/07/16/china-latin-america-relations-creative-engagement-versus-non-intervention-pub-56175
[web]
Ferchen, M
/ China and Latin America: Challenges in Pursuing Prospects
/ https://carnegietsinghua.org/2015/02/05/china-and-latin-america-challenges-in-pursuing-prospects-pub-58990
[web]
Ferchen, M.
/ 2017
/ Can China Help Fix Venezuela?
/ https://carnegietsinghua.org/2017/07/24/can-china-help-fix-venezuela-pub-71564
[web]
Guevara, C.
/ 2020
/ China’s Support for the Maduro Regime: Enduring or Fleeting?
/ https://www.atlanticcouncil.org/blogs/new-atlanticist/chinas-support-forthe-maduro-regime-enduring-or-fleeting/
[web]
Hecimovich, J. P.
/ 2017
/ The Roots of Venezuela’s Failing State
/ https://origins.osu.edu/article/roots-venezuelas-failing-state
[web]
IMF
/ 2021
/ World Economic Outlook (April 2021)
/ https://www.imf.org/external/datamapper/datasets/WEO
[web]
Kaplan, S. B.
/ 2019
/ China-Venezuela Economic Relations: Hedging Venezuelan Bets with Chinese Characteristics
/ https://www.wilsoncenter.org/sites/default/files/media/documents/publication/china-venezuela_relations_final.pdf
[web]
Mehta, K
/ 2018
/ China in Latin America: A Rising Power’s Forays into US Backyard
/ https://www.orfonline.org/wp-content/uploads/2018/01/ORF_Occasional_Paper_141_China_LatinAmerica.pdf
[web]
MFA
/ 2000
/ Zhonghua Renmin Gongheguo YuWeineiruila Gongheguo Jianli Waijiao Guanxi de Lianhe Gongbao [Joint Communique on the Establishment of Diplomatic Relations between China and Venezuela]
/ https://www.mfa.gov.cn/web//ziliao_674904/1179_674909/t4934.shtml
[web]
MFA
/ 2014
/ Zhongguo-Lamei He Jialebi Guojia Lingdaoren Baxiliya Huiwu Lianhe Shengming [Joint Declaration of the Brasilia Meeting of Leaders of China and Latin American and Caribbean Countries]
/ https://www.fmprc.gov.cn/web/ziliao_674904/1179_674909/t1175758.shtml
[web]
MFA
/ 2016
/ Zhongguo Dui Lamei He Jialebi Zhengce Wenjian [China’s Policy Paper on Latin America and the Caribbean]
/ https://www.fmprc.gov.cn/web/ziliao_674904/tytj_674911/zcwj_674915/t1418250.shtml
[web]
MOFCOM
/ 2017
/ Duiwai Touzi Hezuo Guobie (Quyu) Zhinan: Weineiruila (2017) [Guide to Countries (Regions) for Foreign Investment and Cooperation: Venezuela (2017)]
/ http://www.sh-beltandroad.net/article/fxffnew/gbznnew/201809/1460141_1.html
[web]
MOFCOM
/ 2020
/ Duiwai Touzi Hezuo Guobie (Quyu) Zhinan: Weineiruila (2020) [Guide to Countries (Regions) for Foreign Investment and Cooperation: Venezuela (2020)]
/ http://obor.sh-itc.net/article/fxffnew/gbznnew/202106/1514419_1.html
[web]
Noesselt, N.
/ 2013
/ China in Latin America: Competition in the United States’ ‘Strategic Backyard’
/ https://www.ssoar.info/ssoar/bitstream/handle/document/35972/ssoar-2013-noesselt_et_al-China_in_Latin_America_competition.pdf?sequence=1&isAllowed=y&lnkname=ssoar-2013-noesselt_et_al-China_in_Latin_Am
[web]
UN
/ 2019
/ Venezuela: Competing US, Russia Resolutions Fail to Pass in Security Council
/ https://news.un.org/en/story/2019/02/1033832
[web]
World Bank
/ 2021
/ World Bank Open Data
/ https://data.worldbank.org/indicator/FP.CPI.TOTL.ZG?locations=VE
[web]
Xie, S. H.
/ 2017
/ Zhongguo Touzi Zai Weineiruila Tingbai: Yi Shiyou Huan Daikuan Zhende Shuangying Ma [Chinese Investment Stalls in Venezuela: Is Oil for Loans a Win-Win Deal]
/ https://www.thepaper.cn/newsDetail_forward_1598520