China's deep financial ties with Venezuela represent a complex and high-stakes relationship, with historical loan commitments reaching over $100 billion between 2000 and 2023, primarily through oil-backed deals. While the total amount committed over two decades is substantial, the current outstanding debt Venezuela owes to China is estimated to be significantly lower, ranging between $10 billion and $20 billion as of late 2025 and early 2026. This distinction highlights that while China has historically poured vast sums into Venezuela, its current direct exposure in terms of recoverable debt is a fraction of the headline figure. Venezuela's economy has indeed been in a state of profound collapse since 2013, characterized by an 80% GDP decline in less than a decade, hyperinflation that peaked in recent years, widespread food shortages, and severe mismanagement of its critical oil sector. Although the IMF projected some modest growth for 2024 and 2025, and inflation has decelerated, forecasts for 2025 and 2026 still anticipate GDP contraction and high inflation, with the Venezuelan Finance Observatory reporting a 2.7% contraction in early 2025. Public sentiment in 2025 still overwhelmingly identifies economic issues as the most pressing problem. For China, these loans were strategic, aimed at securing oil supplies and expanding its geopolitical footprint in Latin America through its Belt and Road Initiative. The recent US intervention and the capture of Venezuelan President Nicolas Maduro have added a layer of uncertainty, posing risks to China's ability to recover its outstanding loans and potentially impacting future investments. Chinese officials have expressed concern and are monitoring lenders' exposure to Venezuela, signaling the substantial stakes involved for Beijing in the country's volatile political and economic landscape.