Commentary China has lent more money to Venezuela than any other country–$60 billion. When the two joined in an anti-U.S. union, both expected to benefit. Now, isolated by the world community, Venezuela’s bonds are in default and its economy is crashing. China has cooled on the relationship, and the United States may have an opportunity. China’s rapid economic rise of the early 2000s opened the door to Chinese investment in resource-rich, developing nations. As a result, Beijing set up trade partnerships with countries in Central and South America, as well as the Caribbean—countries which have historically been within the U.S. sphere of influence. China-Venezuela Relations In 1998, Hugo Chávez was elected as president of Venezuela and the left-wing Bolivarian Revolution, a socialist political movement, began. Chávez’s policy goals were called Chavismo and included nationalism, a centralized economy, a strong military, as well as an increase in public projects and price controls …