Venezuela's crisis roiling South America, drawing international aid

The biggest global players have chipped in financial and technical assistance to mitigate destabilization and alleviate suffering, including commitments of more than $50 million from the U.S. and $40 million from the EU. The U.S. is dispatching a naval hospital ship to provide humanitarian assistance in neighboring Colombia, while China — a strategic ally of Venezuela — is reportedly doing the same in Venezuelan territory.

What to watch: Washington accepts that the Venezuela crisis is a top concern, but President Trump has yet to articulate the global stakes or define U.S. interests. While he has not yet turned to his forceful persuasion playbook to try to compel change — as he has with China, Iran, North Korea and Russia — it's not clear whether those alternatives to more traditional diplomatic and military options can be successfully applied in Venezuela. For now, expect more sanctions and further debate about how to time them around the next disaster event.

The bottom line: These moves are important starting points, but they do nothing to clarify the end game for a crisis likely only to worsen.

Michael McCarthy is a research fellow at American University’s CLALS, an adjunct professor at George Washington University's Elliot School for International Affairs and the founder and CEO of Caracas Wire.