China grants $4 billion loan, Chavez defends ties - WAOW - Newsline 9, Wausau News, Weather, Sports

China grants $4 billion loan, Chavez defends ties


CARACAS, Venezuela (AP) -- Venezuelan President Hugo Chavez is defending his country's trade ties with China as vital and is dismissing criticisms by opponents who question his government's increasing loans from China.

Chavez says he doesn't understand how some of his opponents can criticize Venezuela's relationship with China.

He made the remarks on Thursday as officials of both countries signed a series of accords, including one in which China agreed to a new $4 billion loan to be paid back in oil shipments.

China has swiftly become Venezuela's biggest foreign lender in recent years, and has previously agreed to more than $32 billion in loans.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

APNP-11-24-11 1533CST

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