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Subject:  Re: Economic Struggle - China vs U.S. Date:  3/11/2008  3:08 AM
Author:  AnomaLee Number:  34544 of 653

That is a different topic...

I should have entitled this post: Economic Struggle for Resources

As large as the current credit crisis is. The greatest economic threat facing the U.S. in the world is still and currently is... China. Their economic growth over the past 20+ years has finally reached a level that is threatening developed nations and their claims for natural resources. 

China has been buying raw materials [ especially industrial metals such as iron ore, copper] at a clip higher than their share of world population, similar to the oil consumption of the U.S.

   With 6.5 billion human beings the sad reality is we all can't eat beef and use toilets filled with fresh water unless we make great progress technologically.

If you read the following article from the Council of Foreign Relations you will find that China's interference in global affairs is beginning to alarm policy makers. Their global footprint of controlling precious resources is disturbing the U.S. and Europe by maintaining their presence in foreign matters.

China, Africa, and Oil 

"As global demand for energy continues to rise, major players like the United States, European Union (EU), and Japan are facing a new competitor in the race to secure long-term energy supplies: China. With its 2006 GDP growth hitting 10.7 percent, China is intent on getting the resources needed to sustain its soaring economy, and is taking its quest to lock down sources of oil and other necessary raw materials across the globe. With the Middle East mired in long-term instability, China has turned toward another major oil producing region whose risks and challenges have caused it to be overlooked by much of the rest of the world: Africa.

How extensive are China's oil interests in Africa?

China's voracious demand for energy to feed its booming economy has led it to seek oil supplies from African countries including Sudan, Chad, Nigeria, Angola, Algeria, Gabon, Equatorial Guinea, and the Republic of Congo. The U.S. Energy Information Administration says China accounted for 40 percent of total growth in global demand for oil in the last four years; in 2003, it surpassed Japan as the world's second-largest oil consumer, after the United States...."


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