By Ryan Kilpatrick From that’s

UPDATE, No, Venezuela has not ceded territory to China to pay off debts

Caracas has borrowed over USD50 billion from China in recent years, and Venezuelan finance minister Rodolfo Marco has come up with a novel way to repay their debt in kind during his visit to Beijing: he’s just given China a Venezuelan island.

Say “hola” to China’s first overseas possession in the Caribbean Sea, Isla La Blanquilla.