The U.S. seizure of Venezuela’s president has governments, executives and investors bracing for wide-reaching business and geopolitical fallout.

In an era of shifting global economic alliances, few countries find themselves more strategically positioned than Colombia. Caught between the massive state-backed investment initiatives of China and the established political and economic influence of the United States, Bogotá’s policy decisions have never held higher stakes for investors, the region, or especially, the country’s own citizens.

At the 2025 Colombia Gold Summit, Finance Colombia Executive Editor Loren Moss spoke with Daniel Giraldo, a Managing Director at FTI Consulting (NYSE: FCN), a global business advisory firm specializing in cross-border investment and corporate finance. Giraldo offered his perspective on the geopolitical chessboard, examining what Colombia’s recent decision to join the Belt and Road Initiative means for its future relationship with its largest long-standing ally, the United States.

Finance Colombia: I’m here with Daniel Giraldo of FTI Consulting. So we’re here at the 2025 CGS, Colombia Gold Summit, where we also talk about other precious metals, we talk about silver, we also talk about metals like copper, molybdenum, things like that. You gave an interesting talk yesterday, I don’t want to steal your thunder. Why don’t you summarize your discussion?

Daniel Giraldo: Well, if I could summarize my lecture yesterday, I think there’s a chessboard, a giant global chessboard right now. And there are two main players: US and China. And Colombia is one key figure, a key part of this chessboard. Right now, Colombia is in a key position with lots of opportunities between Chinese investment and the US investment. However, which decisions Colombia takes right now will shift the entire game for the coming years.

Finance Colombia: So we are in the last few months of a government that has been relatively friendly or biased towards China. And hostile might be too strong of a word, but relatively cold towards the United States, talking about the Petro government. Colombia, under Petro, just signed up for the Belt and Road Initiative. What is the significance of that for Colombia, not just in its relationship with the United States, but what does that do or change for Colombia?

Daniel Giraldo: Well, what we are seeing right now is that Colombia signed formally the Belt and Road Initiative earlier this year. And there’s been a lot of tensions with the Trump government. At the same time, the US is the main investor in Colombia. And what we’re seeing is how China, through different initiatives, wants to have a bigger long-term influence in the region. And Colombia is, in a soft way, saying, “We want that for us.” However, that’s not a shift that can be made automatically. That’s not made in a single signature by one president. It takes years and years to forge a relationship. And although the government of Petro, President Petro is showing how they’re very interested in the Chinese investment, and to have a strong relationship with the Chinese government, it’s not the way, to just step out of their major alliances throughout years with the US

Finance Colombia: The way that investment is done in China is fundamentally different than the way investment is done from places like the US or Canada or many European countries. In the US, if you’re going to attract investment in Colombia, it’s going to be with some company. And that company is going to do what it wants to do within the law but not really giving a damn about what Washington says or what Washington wants or what Ottawa says or wants. Whereas in China, it’s very much a government-to-government thing. You have state-owned enterprises, and Xi Jinping or the Communist Party says, “we’re going to invest in this,” whether it’s profitable or not, for whatever kind of geopolitical reasons that they want to do things. So it’s a fundamentally different thing.

If you do a deal with a company in the US, you’re doing a deal with that company. Now, yes, you have to make sure that regulatory things go through. Trump is a little bit more of a patronage type of president where he wants to get involved with things so he can find benefit for himself or his administration. But generally speaking, even still, if we look at investors, if you’re going to bring in someone to invest in one of these mining companies here or exploration, it’s a company. In China, it’s going to be a state-backed company. Now, what does that imply, then, for the way business would be done going forward, number one? And number two, Petro’s on his way out, and maybe there will be another left-wing government to continue his project, it doesn’t look like it at this point. But do you see continuity in that affinity or that participation in the Belt and Road Initiative? Like you mentioned, it’s not a treaty, it’s more of like a memorandum of understanding, like the diplomats like to call it. But what do you foresee over the next two or three years?

Daniel Giraldo: Yeah, I believe every tactic has been launched in a very moderate way somehow. So, of course, Belt and Road is just a framework, and every project that could be contemplated by Chinese government, depending on the feasibility of each one of these projects. So they’re not basically getting married yet, they’re just dating.

They’re just on their first dates. However, we’re married to the US We’ve had a long-standing marriage, and what we are seeing right now is that how investment works for both countries is different. However, for both countries, there are more and more, basically, things they require to be approved.

So in order to achieve this, the US is not being indirect about it. They require trusted partners. They require trusted allies, which get what’s at stake right now. So, Petro’s government has one year left. We are expecting a shift. However, even if Colombia gets a left-wing government or a right-wing government, it doesn’t change the fact that investment in the latest years has been in a rough place.

So Colombia requires this investment, and the country requires a very stable policy framework, regulatory framework, legal framework, in order to get investors feeling safer, with more appeal. And, yes, of course, it’s not the same as an SOE (State Owned Enterprise) Chinese company that wants to invest, that needs the approval of Beijing and all this. In contrast, we have the US. Of course, Washington can say whatever they want. They can say Petro is now on the Clinton list, and they can sanction him personally. But a company, a US company, can still invest here; it changes how they see Colombia in the long run.

Finance Colombia: I think one of the things that is very notable is that the Trump government sanctioned Petro, his son, his wife, and his interior minister personally, rather than imposing sanctions on the country or doing, like, I don’t know, tariff things. Actually, by the time we publish the video, we might know what happens, but right before the Supreme Court right now, actually as we speak, there is a challenge to Trump’s ability to circumvent congressional law. And so if we have a trade pact, like free trade agreement or something like that, a lot of businesses in the US have challenged Trump’s ability to just… you can’t just cancel a law. Congress passed a law, and it’s in effect, and you can’t just cancel it. Well, that’s what they’re arguing. And all of these kind of unilateral, discretionary tariff moves that affect entire economies and entire industries, there’s some uncertainty that is going to be settled there.

“However, we’re married to the US We’ve had a long-standing marriage, and what we are seeing right now is that how investment works for both countries is different.” – Daniel Giraldo

But it’s interesting because it seems that with them sanctioning Petro and Benedetti directly as individuals, they’re saying that they want to maintain some predictability and constancy in the bilateral economic relationship with Colombia. And I think that there have been a lot of missions. Fico, the mayor here in Medellin, some of the other mayors and Colombian congressional people have visited Washington and met with senators and met with people in the State Department and said, “Look, you know, we disagree with what the president’s doing. Wait a few months.” And it seems like Washington has heard that and is not acting too rashly towards Colombia as a country but rather decided to take their ire out directly on the president and his consigliere Armando Benedetti.

Daniel Giraldo: What I believe of this is that Trump’s government can say like, “We’re not afraid. We are not afraid of imposing sanctions. We’re not afraid of not conducting business in the way we used to do it anymore.” And it’s been shown, for example, in the relationship with China, for example, with the Chinese government, with Xi Jinping. And there’s been like an escalation of tariffs, for example, I think up to 130%. I can’t remember the exact number. And then last week they say, “let’s stop this. Let’s trade the sequels.” And it’s also their way of showing the carrot and then showing the mace or bat, this metaphor.

Finance Colombia: Yeah, the stick.

Daniel Giraldo: And with Colombia, I believe it is the same. It’s like we could, if we wanted, to give some sanctions and they will have great consequences in terms of our bilateral trade. However, they’re aware of their position. They’re our main investor. We have a very good relationship in bilateral trade. There’s been years and there’s been decades of both countries benefiting from each other. We have a great position in one of the closest countries to enter South America. And they know this government is just ending. So why would they give us, like give the left-wing parties an opportunity to just bash them and say, “Oh, Trump’s government can’t be trusted.” Whereas if you take another position and say, “Look, this is personal, this is just these individuals, not the whole country.” You still have ground to negotiate, to renegotiate, to benefit. So I believe it is quite tactical.

Finance Colombia: Another thing that you mentioned is the difference on the ground. When you look at, for example, if we talk about the mining sector, not just on the ground, but literally in the ground, the US right now, the Trump administration, and really just the US more broadly, is very concerned about rare earths. And Colombia, even though there’s not yet a lot of mining activity, Colombia does have rare earth potential. There’s already been illegal coltan, cobalt ore mining taking place down in the Amazon, things like that. But it would seem that further damaging relationships with Colombia right now would contravene the political strategy in the US to strengthen its rare earth mineral supply chain.

Daniel Giraldo: Yes, it is completely true. The US has shown how important it is for them to be less dependent on the supply chains of the Chinese government, specifically in terms of their rare earths and critical minerals refining processes. So the US has been in recent weeks signing lots of memorandums of understanding and bilateral agreements with Australia, with Japan, with Malaysia, with Thailand. And they already have very good deals with Argentina, with the Mineral Security Partnership, for example, Mexico, Peru, Argentina. And the Dominican Republic. And Colombia could be in the radar as well. And what Colombia requires to be here and to benefit with the US as well is just to be patient, to get the best and the highest standards of ESG, and to reassure the different governments that it is safe to trade minerals with Colombia. That if they purchase Colombian minerals, they explore the region and they trade with us, they will find quality, they will find high standards of minerals, without assuming lots of risks that these markets don’t want to assess anymore.

Finance Colombia: So longer term, looking out three to five years, are you optimistic or pessimistic about the bilateral relationship between the US and Colombia?

Daniel Giraldo: I feel optimistic, not only because it’s the most comfortable answer, but I do feel optimistic because I believe there is a lot of potential. And right now, the sector is not in its best place. But I believe that sometimes you just have to grit your teeth, take the punch, and then stand up again and do everything that’s in your power to just become better. And Colombia has a history of learning, and the sector will learn as well how to be more competent, how to attract investors, and how to get to the highest standard and quality of their bilateral trade with different countries.

Finance Colombia: Great. Well, Daniel Giraldo from FTI Consulting, you guys are one of the leading strategic consulting firms globally, especially when you look at things like cross-border investment. That seems to be your strong suit, even though you guys are a large firm and you guys do a lot of different things. Always great to see your presence here at CGS, at Colombia Gold Summit. And thanks for your insights.

Daniel Giraldo: It’s a pleasure, thanks for having me.

Why such a massive U.S. military deployment off the coast of Venezuela, supposedly to combat the “Cartel of the Suns” and stop drug trafficking from Venezuela to the United States? After more than four months, the results amount to little more than a handful of small vessels destroyed – an extremely modest impact given the scale of the force deployed.

The reality is that the volume of drug trafficking transiting through Venezuela to the United States is relatively small. Venezuela is not a producer of cocaine, much less of fentanyl, most of which enters the United States via Mexico. If the real interest is not to halt drug trafficking, what then is the motivation for placing the Fourth Fleet on a war footing in the Caribbean Sea? Logic might lead one to think the U.S. interest is oil, since Venezuela holds the largest reserves in the world—but that is not it either. Today the United States is the world’s leading oil producer, at 13.4 million barrels per day, and it has proven reserves sufficient for approximately ten years, assuming no new discoveries and no improvements in recovery or technological advances—an impossible assumption.

So what, then, is the underlying issue if it is neither drugs, nor oil, nor other minerals in which Venezuela might have potential and that would be attractive to the United States?

The answer lies in a little-publicized document formally released by the White House on December 4, titled National Security Strategy 2025. While the document introduces substantial changes in relations with Europe and traditional adversaries, the most striking element is the new emphasis placed on Latin America. Of the document’s “roadmap to ensure that America remains the greatest and most successful nation in human history”, five sections are devoted exclusively to our region, positioning Latin America as a fundamental component of U.S. security – a very significant shift from earlier versions, which historically prioritized the Middle East or Asia. There is a new strategy, or if you will, a “New Monroe Doctrine,” a continuation of the 1823 Monroe Doctrine, reaffirming U.S. preeminence in the region.

“After years of neglect, the United States will once again apply and enforce the Monroe Doctrine to reestablish U.S. preeminence in the Western Hemisphere, and to protect our homeland and our access to key geographies throughout the region. We will deny non-Hemispheric competitors the ability to position forces or other threatening capabilities, or to own or control strategically vital assets, in our Hemisphere,” states the 29-page document.

Key elements of this new doctrine include: countering external influence by requiring Latin American governments to dismantle foreign military installations and divest strategic assets in exchange for aid or alliances; stopping illegal migration, including naval patrols in the Caribbean and the eastern Pacific, selective border deployments, and the use of incentives for governments to curb migratory flows; combating narco-terrorists and cartels; and sealing economic and political commitments with aligned governments in a win-win framework that would include procurement preferences and greater cooperation, among other measures, with a view to turning Latin America into a stable market for U.S. exports and a buffer against global rivals.

In recent years, China has achieved significant penetration in Latin America through its diplomacy and long-term strategy (the Belt and Road Initiative, or New Silk Road). For nearly all countries in the region, China has become the leading trading partner, displacing the United States; it is also an investor in major infrastructure projects and a lender of funds (in Venezuela’s case, a very large lender that negotiated debt repayment in oil at very low prices). In addition, China has become a major supplier of weapons and information technology.

In this context, what Washington appears to be seeking is indeed a regime change in Venezuela to counter the influence of China and Russia, but without openly announcing it in order to avoid a direct diplomatic confrontation. Trump has segmented the region into friendly regimes (Argentina, El Salvador, Ecuador, Honduras, and Guatemala), enemy regimes (Venezuela, Cuba, and Nicaragua), and regimes in limbo (Colombia and Brazil).

For Venezuela, regime change appears imminent, which would profoundly benefit Colombia, because, as Miguel Uribe Turbay said before he was assassinated, “as long as there is no freedom in Venezuela, there will be no peace in Colombia.” On the other hand, a change of government in Colombia is also approaching, and the country will have to decide which of these groups it wants to belong to—whether it repairs its relations with its traditional partner and ally, or definitively joins the group of pariah states in the region. Let us hope it is the former.

About the author: Luis Guillermo Plata served as Minister of Trade, Industry of Commerce during the government of President Álvaro Uribe Vélez, and in 2021, appointed by President Iván Duque, Ambassador of Colombia to Spain.

Apple's iPhone Air sold out across online stores in China within hours of pre-orders opening on Friday, the South China Morning Post reports.


Demand for the ‌iPhone Air‌ reportedly surged immediately after pre-orders opened. Apple's online store and the official Tmall flagship both listed multiple color and storage configurations as unavailable within the first two hours of availability, reflecting even higher demand than the device saw in western markets last month. Prices begin at 7,999 yuan (approximately $1,122).

The ‌iPhone Air‌ was introduced globally in September but delayed in mainland China pending government approval for eSIM, which replaces physical SIM cards and enables slimmer smartphone designs.

The launch coincides with the Ministry of Industry and Information Technology's decision to authorize eSIM trials for smartphones, marking the first time Chinese users can activate a mobile number without a physical SIM card. China Mobile, China Unicom, and China Telecom confirmed this week that they had received approval to begin commercial operations, paving the way for the ‌iPhone Air‌ to launch without regulatory restrictions.
This article, "iPhone Air Sells Out in China" first appeared on MacRumors.com

Discuss this article in our forums

Apple CEO Tim Cook pledged to expand the company's investments in China during his latest visit to the country, signaling that Apple intends to maintain a strong presence in its most important manufacturing hub even as it continues diversifying production elsewhere, Reuters reports.


During meetings with Chinese government officials this week, Cook told China's industry minister Li Lecheng that Apple will keep investing in the country, with ongoing commitment to its Chinese supply chain and operations. Lecheng told Cook that China hopes Apple will continue to expand in the country and "grow together with Chinese suppliers," adding that the government intends to foster a favorable business environment for foreign companies.

Cook's visit comes at a sensitive time in U.S.–China relations, as both countries remain locked in a prolonged trade dispute mired by tariffs, export restrictions, and increasing pressure on technology companies to localize their manufacturing. The White House has promoted domestic production under initiatives such as the CHIPS and Science Act, while Beijing has sought to reinforce ties with foreign investors amid slowing economic growth.

Apple's position in this environment has grown increasingly complex. The company has spent the past two years shifting parts of its manufacturing to countries such as India and Vietnam to reduce its dependency on China, yet the majority of its iPhones and other key products continue to be assembled by Chinese partners. Cook's latest assurances in China underscore that, despite diversification efforts, China remains integral to Apple's global operations.

Apple remains caught between competing political and economic pressures. U.S. regulators have intensified scrutiny of American firms operating in China, while Chinese authorities have increased oversight of foreign technology companies. Yet Apple has so far remained largely unscathed compared to other U.S. firms such as Nvidia and Qualcomm, both of which have faced regulatory investigations in China.

Apple's Chief Operating Officer Sabih Khan joined Cook for the visit, meeting with Lens Technology, one of Apple's longtime Chinese suppliers responsible for producing glass covers for the iPhone and Apple Watch.
This article, "Apple CEO Tim Cook Pledges to Increase Investment in China" first appeared on MacRumors.com

Discuss this article in our forums