Tuesday, Jul 20, 2010
China willconsume every resource on the planet.....
Bloomberg: China Passes U.S. as World's Biggest Energy Consumer, IEA Says
China will consume resource on the planet so there is no hope for global deflation. China will drive up the demands for energy and hence the price can only go north. It causes oil and factors of production to rise, ultimately filtering through the entire economy. China overtook the U.S. as the world’s biggest energy user last year, emphasizing that developing nations are driving global growth, according to the International Energy Agency. China consumed 2,252 million metric tons of oil equivalent in 2009 in the form of crude, coal, natural gas, nuclear power and renewable sources, IEA Chief Economist Fatih Birol said yesterday. That exceeded the 2,170 million tons used by the U.S.
Posted by simon68 @ 07:59 PM (1361 views) Add Comment
28 Comments
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1. drewster said...
Simon68 says:
"China willconsume every resource on the planet....."
No it won't. That's just silly.
2. titaniccaptain said...
Eh?
Well done Simon!!!!
Not even the Daily Mail could come out with a headline like that!
Its almost as bad as one of mine!
http://www.economicvoice.com/coronation-street-star-graeme-hawley-attacked-by-peasant/50011897#axzz0uGKfpZtt
3. mark wadsworth said...
It's true that factories in China use up a lot of coal (mainly domestic) and oil (mainly imported) but so what? They are using that coal and oil to make cheap goods for us in the west. So if the factories were still in the west, we'd be using more and they be using less.
4. quiet guy said...
"They are using that coal and oil to make cheap goods for us in the west"
For now. Over time the Chinese people will enjoy more disposable income and consume more for themselves.
5. simon68 said...
Countries (e.g. Brazil, China, America, South Africa, Australia, Middle East or Indonesia) with abundant supplies of natural resources will benefit the most while those countries that do not have natural resources and rely on imported goods to satisfy consumption demands will get hurt the most.
Standards of living in countries that run huge trade deficits and have no production capacity will certainly deteriorate. I am not talking about Japan, although it does not possess natural resources but it turns imported factors of production into exporting goods and trade surplus finally.
6. simon68 said...
TO: mark wadswoth
Have you read my previous post?
China did remove rebates of exports tax for manufacturers in 2010……………..that means manufacturers in China will suffer a loss if they export their products to overseas countries. However, they enjoy low tax and state subsidies for selling their products in local market.
Do you think China will weigh a high importance of UK market any more?
7. simon68 said...
TO: mark wadswoth
According to OECD prediction GDP of emerging countries will account for more than 60% of the world’s GDP before 2030, that partly led to the establishment of free trade zone agreement between China and ASEAN (Association of Southeast Asian Nations) member states, something like North America Free Trade Agreement between USA, Canada and Mexico. You should know China no longer value trade relationship with the West as before.
At the end of the day, intrinsic value of all fiat currencies (i.e. Euros, US dollars or Sterling Pounds) is no difference to toilet roll. You know it, we know it and everyone knows it!
8. simon68 said...
Double digit inflation in UK is not a dream.
So NS&I removes inflation link deposits.
9. simon68 said...
See this:
http://img251.imageshack.us/img251/78/tradedeficit2009.gif
http://www.moneyweek.com/news-and-charts/economics/the-uk-trade-deficit---does-it-matter.aspx
10. simon68 said...
USA & UK along with PIIGs are top of the soccer league.
11. Crunchy said...
What do you expect when the west has deliberately been castrated into service economies over many years with offshoring.
Now resources. We have lots of hidden oil and alternative energy sources, so no need to panic says Lindsay Williams.
If civilisation was so threatened we would go back to the horse and cart and live more simplified lives. Ain't gonna happen!
All this paranoia about depleating energy and the earth is dying and 'IT'S FOR THE CHILDREN' is brought to you by the very people who
stand to gain the most (back to the banksters again) out of carbon taxes and all of the other related perks.
That is not for the children, quiet the contary.
Did you know that British Petroleum was a major player in it's inception. Tut tut? or other?
China will be the future super power and the globe will be modelled on their lifestyle/politics/policies. That's the NWO folks.
Come back America, after you have jailed all your treasonous globalist criminals that are destoying you. All is forgiven.
May you guard your Constitutional Republic more closely in the future so we can have a super power for liberty and justice.
12. p. doff said...
I was in Beijing during last years PRC 60th anniversary. As with the olympics, factories had to be shut down beforehand to get rid of the smog - but it was unbearable in Tiananmen Square a week earlier. The Chinese will probably choke on pollution before 'they consume every resource on the planet'. Government population control by stealth?
13. simon68 said...
What is a trade deficit?
A trade deficit occurs when a country is importing more goods than it exports. It reflects the fact that a country is living beyond its means – spending more on foreign imports than it makes from selling its own exports abroad. To give an idea of the scale of a trade deficit, the figure is typically compared to the country’s Gross Domestic Product (GDP) – the total value of goods and services produced in a country in a year. Britain’s trade deficit was £60bn in 2006, or 5% of GDP.
However, a large deficit can put serious pressure on a country’s currency; according to investment guru John Mauldin, no country has “ever run a deficit of more than 5% without at least a 30% drop in the value of its currency”. This is simply due to the fact that the more that imports outweigh exports, the greater the demand for foreign currency over the domestic one. Recovering from a large trade deficit or collapsed currency is a painful experience for a country. The recession in Britain in the early 1990s was largely due to huge deficits built up in the 1980s.
14. simon68 said...
United Kingdom and the Global Economy
Last year, the value of U.K. exports to the world declined by 24.7% to an estimated US$351.3 billion from $466.3 billion in 2008. Over that same period, United Kingdom imported $473.6 billion worth of products from the rest of world, down 26% from $639.3 billion in 2008.
The U.K.’s global trade deficit was $122.3 billion for 2009. That figure represents a 29.3% reduction from the $173 billion in negative cash flow from the prior year.
But a smaller trade deficit is hardly good news. Exports provide revenues, and the U.K. had $115 billion less in cash flow to pay towards its debt after its dismal international business performance in 2009.
15. simon68 said...
Trade deficit troubles
Created: 1 June 2010 Updated: 6 July 2010 Written by: Chris Dillow
There's one curious feature of the recession that hasn't had the attention it deserves - it has not led to any significant reduction in the UK trade gap. In the first quarter (Q1) of this year, the UK had a deficit in goods trade of £21.8bn, just over 6 per cent of GDP. This is much the same as it was in the first half of 2007, when the economy was booming.
16. simon68 said...
TO: p. doff
There are 56 ethnic groups in China.
The one child one family policy applies to only the majority Han Chinese but not ethnic minorities.
17. Crunchy said...
11. p. doff
Good man! My, you have suprised me. As in China, as in the globe.
Do the super rich really need so many people now they have all the money in the world.
"The paranoia of a survivalist and control freak" would make a good book title.
You will be fully on board one day p. doff. Better late than never.
Recaptcha - reached rebuilt
18. simon68 said...
TO: p. doff
There are no factories shut down in Beijing last year for PRC 60 years celebration event but just roads, in fact the main contributor for smoke emission is coal-fire power plant. Beijing is neither a city made up by light nor heavy industries, and those industries are concentrated around Pearl River Delta!
19. nomad said...
11 out of 16 comments to his own post!
Go and sit in a corner and talk to yourself. Oh! You are.
20. p. doff said...
Simon. So no pollution in Beijing before the Olympics either then - wonder what all the fuss was about.
China's one child policy was established by Chinese leader Deng Xiaoping in 1979 to limit communist China's population growth. Although designated a "temporary measure," it continues a quarter-century after its establishment. The policy limits couples to one child. Fines, pressures to abort a pregnancy, and even forced sterilization accompanied second or subsequent pregnancies.
It is not an all-encompassing rule because it has always been restricted to ethnic Han Chinese living in urban areas. Citizens living in rural areas and minorities living in China are not subject to the law. However, the rule has been estimated to have reduced population growth in the country of 1.3 billion by as much as 300 million people over its first twenty years.
This rule has caused a disdain for female infants; abortion, neglect, abandonment, and even infanticide have been known to occur to female infants. The result of such Draconian family planning has resulted in the disparate ratio of 114 males for every 100 females among babies from birth through children four years of age. Normally, 105 males are naturally born for every 100 females.
recap 'the sterilize' I kid you not, though was third attempt.
21. simon68 said...
TO: p. doff
You are right. China is evolving from a farming based country into manufacturing based and soon services oriented.
You need labours to do the farming work; so the larger the family the better.
22. simon68 said...
TO: nomad
No one compel you to read nor respond!
Please pssi off if you aren't happy.
23. This comment has been removed as it was found to be in breach of our Blog Policies.
24. Rental John said...
If you google...... simon68 china you'll see this guy (PRC disinformation HQ) posts on many many many blogs.....ignore this guy, and HPC should block him sorry them!
HPC give HPC back!
25. Outtheloop said...
Hey Simon! Are you on piecework?
26. watchman said...
"Please pssi off if you aren't happy"
As a long time back-seat reader of this forum it's gone from interesting points of view, arguments, banter etc... and mutated into something that is so far off topic to do with the wider economy and the comments/arguments/banter are frankly tiring to read
Pssi off. I think I finally will do just that, I'd rather spend my time knitting or train spotting
And people posting their recaptcha's surely shows the lack of content and imagination this forum has sunk down to
Ta da
27. Crunchy said...
2. titaniccaptain
Meet the next generation that will keep everything in check much like the last generation.
Is it really their fault when free thinking and objectivity is hardly encouraged but instead frowned upon by 'normal social structures.'
I know all about it.
You are all to blame, every one of you that adheres blindly to that engineered structure and on all levels.
Problem is the guilty will not know who they are. 'Can you see what it is yet!'
Le Crunch.
28. This comment has been removed as it was found to be in breach of our Blog Policies.