Venezuela crisis lets China and Russia maneuver in US backyard

Venezuela's debt crisis has given China, the troubled country's No. 1 creditor, and Russia a golden opportunity to expand their economic -- and possibly military -- influence in the Americas. The new triangle could have serious strategic implications for the U.S.  Despite sitting on the world's largest oil reserves, Venezuela's economy is collapsing under the burden of some $130 billion in debt. The U.S., which tolerated anti-American rhetoric from the country's leftist government for years after Hugo Chavez took power in 1999, has adopted a tougher stance of late. Over the past decade, Beijing has loaned Venezuela a whopping $65 billion to help finance infrastructure and other projects. Now Russia, a key creditor, has swooped in bearing debt relief. More…