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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: CalculatedRisk who wrote (25043)3/7/2005 10:12:10 AM
From: RealMuLan  Read Replies (1) of 116555
 
>>Is China to blame for higher gas prices? Of course not. They have the same right to oil as any other consumer. But the increased demand in the US and China has most likely caused (without blame) the increase in prices.<<

I do not have the data now, isn't this the case for almost every single nation/region in the world?

And even if now, as much as China has become a manufacturing workshop of the world, China's oil consumption still is only about 6% of the world.

And now to mention, China is the one who are making greatest effort to develop renewable energy resources. I don't see similar efforts are being made in the US or EU, or Japan. They are more to blame for the high price than China if someone wants to find scapegoat.

Last but not the least, China is the one who suffered the most from the high oil price, not the US or EU, or Japan.
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