Written By Patrick J. Buchanan

“Thank you, Hu Jintao, and thank you, China,” said Hugo Chavez, as he announced a $20 billion loan from Beijing, to be repaid in Venezuelan oil.

The Chinese just threw Chavez a life-preserver. For Venezuela is reeling from 25 percent inflation, government-induced blackouts to cope with energy shortages and an economy that shrank by 3.3 percent in 2009.

Where did China get that $20 billion? From us. From consumers at Wal-Mart. That $20 billion is 1 percent of the $2 trillion in trade surpluses Beijing has run up with the United States over two decades.

Beijing is using... http://buchanan.org/blog/19th-century-americans-3936