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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (80435)	6/22/2008 4:02:04 PM
From: JohnG	Respond to of 116555

""China very much cares if its oil supplies from Iran get disrupted"" To be sure it does as does every other oil consuming country. There is a world market for oil and, for the most part, it is not the oil of any one country. In a pinch, all would need to work together and probably access various reserves in order to avoid crashing the world economy by shutting down a major country and damaging the world economy. Having these strategic reserves might allow the US to hold off any immediate attack on those Iranian military resources threatening the Straits. In such a case this might be a circuit breaker that would hold as long as the Iranians decided wisely not to attack the oil supplies of China, Japan, US etc (but I ma not sure that shipping insurance companies would accept the risk of continuing transit in a war zone).