Libya today, China tomorrow?

El Mundo Economía y Negocios has a nice catch regarding Venezuela’s billion-dollar joint development fund with Libya. Signed just a year ago, partially ratified by the A.N. and published in Gaceta Oficial on December 30th 2010, our bilateral development fund with Libya is undeniably legal in Venezuela. And, within well-established international doctrines on state succession, the agreements that set it up are in no way vitiated by the fall of Gaddafi.

Now, let’s be clear: there’s just no way Chávez is going to follow through on the agreements he reached with Gaddafi now that the guy’s been buggered and shot.

Taking that as a given, I very much look forward to the Chinese Foreign Ministry’s energetic protest against the inevitable Venezuelan move to disown the agreements.

Because, viéndolo bien, if no such protest is forthcoming, what grounds will the Chinese government imaginably have to protest the upcoming Capriles (or Pérez, or López) administration’s refusal to honor CNPC’s Faja contracts and the Fondo Chino agreements?

Am I right or am I right?

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