Xi's not there: what China's Venezuela response reveals

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  The Economist.

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  Hello and welcome to The Intelligence from The Economist.

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  I'm Jason Palmer.

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  And I'm Rosie Bloor.

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  Every weekday we provide a fresh perspective on the events shaping your world.

• 00:24

  A little bit of economics lingo for you.

• 00:27

  Exorbitant privilege.

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  It's the benefit that a country gets when its currency is what other countries save and deal in.

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  As part of our World Ahead series, we look at how America's privilege may be in danger in 2026.

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  And fancy handbags used to be the very definition of a desirable good,

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  cradled for all to see how wealthy and fashion-forward you were,

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  and a walking advert for the luxury brand.

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  Now shoppers are questioning their worth.

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  have designers left the craft out of their bags.

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  But first...

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  So much attention has been spent on the fine detail of the American mission to snatch Venezuela's President Nicolás Maduro and his unplanned trip to the US.

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  But let's go back in time just a tiny bit.

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  To the last foreign visitors he met with just hours before he met with American special forces,

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  a delegation of senior Chinese diplomats led by President Xi Jinping's special envoy for Latin America.

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  Afterwards, Mr.

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