Yesterday, Venezuela held a controversial referendum to underscore its longstanding territorial claim to Guyana’s Essequibo region. But despite fears the referendum was an effort to provide popular legitimacy for the government to seize and annex Essequibo, there are plenty of reasons why a military operation to do so is highly unlikely.
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Though the recent meeting between U.S. President Joe Biden and Chinese President Xi Jinping was short on concrete outcomes, its key accomplishment, according to some observers, was to set a floor on U.S.-China relations. But even if setting a floor was the goal of the meeting, it’s concerning just how low the floor sits.