A Hungry Dragon
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Submitted by freefortermpapers on 06/24/2008 03:00 PM
- Category: Business
- Words: 608
- Pages: 3
- Views: 11
- Popularity Rank: 441
A Hungry Dragon
China population continually to grow at a rapid rate and it is putting an enormous demand on world supplies of energy and other raw materials. China is one of the world's biggest consumers of these raw materials. The oil prices has rise at an unsurpassed this year. And we have China to thank for that. If China continues to grow at this pace, we will see the price of oil to keep going up.
China demand for oil has doubled in the passed ten years. Also, their own oil production is very slow and they have to look for other resort to get oil, like importing oil from other businesses around the world. Because of the shortage of energy China industries has suffered blackout. Also, some industries have to turn to generators powered by diesel because of the shortage of electricity. One of the reasons for this is because China has increase inevitability in car ownership. China is responsible for the two-fifths of the increase in global consumption of oil since 2000. Their global oil demand is at 8%.
China also demands a rush in energy. This demand had raised the price of coal to double over the past year. They consumed 40% of coal and 30 % of steel in the world. China is responsible for the 50% rise of the raw materials. And in The Economist's it says that China demand for energy will continue to rise further. For the most part, though, the commodity and materials firms are being energized by the growth opportunity presented by China. China will remain a powerful driver of global demand growth for many commodities in 2004 and beyond.
I don't think that everyone would be happy about the rising price of many commodities. Rising global commodity and material prices hurt consumers everywhere. If China doesn't slowdown on annual growth, the price will keep rising. But, if China were to slowdown, this could lead to lower price in commodities. This might not be good for the copper, oil, and coal industries that China imports in from...
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