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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (4875)	5/23/2005 6:04:14 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

China's Crude Oil Output Soars 2005-5-21 20:26:59 CRIENGLISH.com Crude oil output has seen rapid growth in the first quarter of 2005 as a result of the soaring oil prices on the world market and growing domestic demand. Xinhua news agency quotes figures from the China Petroleum and Chemical Industry Association, showing the country's crude oil output was 45 million tons in the first quarter of 2005. This is an increase of 5 percent, or 180, 000 barrels daily over the same period in 2004. Output is now nearly 3.67 million barrels per day. Data shows that China invests billions of US dollars in the exploration and development sector of the country's oil industry every year, led by three top oil companies, the China National Petroleum Coroporation, China Petroleum and Chemical Corporation, and China National Offshore Oil Corporation. en.chinabroadcast.cn@239150.htm

To: RealMuLan who wrote (4875)	5/23/2005 9:39:10 PM
From: regli	Read Replies (2) \| Respond to of 6370

A unified currency would make a lot of sense in my opinion. However, it still would need to be backed. The Euro does have gold backing though clearly not convertibility. sandiego.indymedia.org "Euro advertisements in Europe stress the importance of gold reserves for the euro. First, euro advertisements tout the European public perception that the gold reserves of the Euro-zone nations strengthen the euro and also strengthen Europe's economy. The euro ads also proclaim that most Europeans believe that gold reserves create confidence for strong economies. Thirdly, the euro ads proclaim that the vast majority of Europeans believe that the ECB should have gold reserves equal to the national gold reserves. And, the euro ads proclaim that the gold reserves of the Euro-zone central banks are the world's largest and they create public confidence in the euro." The primary reason why I believe that China should consider a peg to gold is that it would likely stop repeated requests for revaluation. I contend that this present push will only be the first of many as Japan can attest to especially during the 80s. Message 21352189