Since 2007, the China Development Bank has lent Venezuela $42.5 billion collateralized by revenue from the world's largest oil reserves, according to a Bloomberg compilation of deals announced by the Chavez government.
The loans are fueling a surge in spending as Chavez hands out homes to the poor, stocks "socialist" supermarkets with appliances and builds a cross-country railroad -- all aimed at winning votes next month in his toughest election battle ever.
"If we didn't have a president like the one we have, lots of families would be on the street," said Flores, who used to live in a two-bedroom shack before being given a new home in December by Chavez's brother, Governor Adan Chavez .... http://finance.yahoo.com
