The China Development Bank has lent Venezuela $42.5B collateralized by revenue from the world's...

|By:, SA News Editor
The China Development Bank has lent Venezuela $42.5B collateralized by revenue from the world's largest oil reserves - far more than the U.S. spent during 2003-09 in rebuilding Iraq - and is effectively bankrolling Hugo Chavez's re-election bid, according to a Bloomberg analysis. Among the top Chinese beneficiaries: Sinopec (SNP) and PetroChina (PTR).