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The commitment was titanic. China would lend Venezuela US$1 billion as soon as the deal was sealed and, in exchange, state-run mining company CVG Ferrominera Orinoco would deliver 42.96 million tonnes of iron ore to Chinese steel company Wuhan Iron and Steel Corporation (Wisco) over the next eight years. The agreement was signed in 2009, the same year that production at the Venezuelan company, part of the Corporación Venezolana de Guayana (CVG) conglomerate, plummeted by around 35%. By María Antonieta Segovia. Full Text->DiálogoChino
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