China’s growth has transformed energy markets in the world since it is the major exporter of oil and coal. China’s quickly increasing need for energy leads to major geopolitical implications. As a country with abundant natural gas producing regions, China has proved to be one of the world’s top oil and gas purchasers. In 2008, most national companies have increased their international gas and oil assets due to a substantial need for oil and gas security. Although energy intensity is supposed to increase during the early periods of industrialization in developing countries, China’s energy consumption grew at half the rate of growth domestic product (GDP) growth during the 1980s and 1990s.
According to Stephen R. Connors (ND), “The extraction, refinement, transportation and storage of fuels carries an immense environment burden, as does it ultimate consumption and disposal of waste products”. As a result, natural gas ... ... middle of paper ... ...nergy demand showed a rapid increase from 2008 to 2035 (EIA.2011), where “More than 85 percent of the increase in global energy demand from 2010 to 2040 occurs among the developing nations, driven by strong economic growth and expanding populations” (EIA.2013). China and India have been among the world's fastest growing economies for the past two decades. From 1990 to 2010. “China's economy grew by an average of 10.4 percent per year and India's by 6.4 percent per year “(EIA.2013).
The statistics from U.S. Energy Information Administration shows that China now accounts for 47% of global coal consumption—almost as much as the entire rest of the world combined. As the coal combustion is the leading source of the smog, Chinese government has to find a balance between them. To reduce the coal consumption with minimal impact on energy supply, new clean energy substitution can be an appropriate strategy. It seems like China has already begun to transform the way it grows for good. “China’s renewable energy investment rose to $110 billion in 2015 and overall low-carbon electricity generation, including solar, nuclear, wind and hydro-power, rose by 20% last year.” (Dettoni).
ARE THE FORCES THAT INFLUENCE CHINA’S TRADE SURPLUS OVER U.S. ACTUALLY GOOD FOR BOTH COUNTRIES? INTRODUCTION Over the last two decades, China has been increasing its trade surplus. To run into a surplus mean that the amount of goods a country exports is far less than its imports. According to the World Bank (2010), China reported a surplus in the balance of trade equivalent to $US 1.7 Billion in April of 2010. Furthermore, before the financial crisis, the Chinese economy had a record from 2006 to 2008 with the fastest-rising Gross Domestic Product (GDP) in 11 years.
The EU consists of 28 countries which collaborate in economic, political, cultural and environmental field. Despite the fact that the top news about the EU actions is connected mostly about economic and politics, environment and climate changes are also important topics to the EU. Because of the size of the EU, the EU leaders have broad acres to look after and to control climate changes there. The EU policy on climate changes is very structured, because of its targets, collaborations with other world’s countries and with researchers who are specialists in field of climate changes. The climate changes are one f the main things that all nations all over the world are worried about and try to prevent it.
Even if the regulations are not yet finalised, some companies recognise business reasons to reduce GHG emissions, which go beyond the obvious concern of protecting the natural environment. The Gilette Company is one of those that have taken measures to use energy in an efficient manner. The first international conference on environment and development was the 'Rio Earth Summit' in 1992, where the United Nations Framework Convention on climate Change (UNFCCC) was created. Today, 181 governments and the European Union (EU) are parties to the Convention. They meet regularly at the annual Conference of the Parties (COP), where they review the implementation of the Convention and continue talk... ... middle of paper ... ...
However, the Beijing government recently predicted a rate of seven percent growth, for the next year, a slowdown for the previously hot Chinese economy (Kurlantzick, 2013). China maintains the world’s largest reserves of US treasuries, which makes it vital in determining the amount of trade that occurs in the world market. As a result of international trade, consumers around the world enjoy a broader selection of products than they would if they only had access to domestically made products. Also, in response to the ever-growing flow of goods, services and capital, a whole host of U.S. government agencies and international institutions has been established to help manage these rapidly-developing trends (Gold,
China is hungry for energy. From the 1970s to the end of 1990s, China had quadrupled its economy. With plans on quadrupling their economy yet again by 2020, China has been on the fast track of faster industrialization, leading to an unprecedented demand for energy. By the mid 1990s, China has turned into a petroleum exporter, to a petroleum importer. With record increases in oil, natural gas, and other energy related imports, there has been a substantial pressure on the global energy and resource markets, making energy security a national priority.
Their economy has grown an astonishing 9-10% over the past thirty years; almost double of what it used to be decades ago. China is also the “world’s greatest manufacturer and its greatest market” (Rachman). The continuing growth of China's economy is a source of concern for not only the U.S. but surrounding nations as well. One could argue that the U.S. need not worry about China’s growth because of the spread of globalization and that western ideologies would influence China to turn to democracy. Yet China has still managed to “incorporate censorship and one party rule with continuing economic success” (Rachman) and remains a communist country.
The main reason for moderation in China is because they are so much more focused on production rather than consumption. Last year, China’s consumption accounted for 35 percent of their economy; a little over 10 years ago, it was rated that 50 percent accounted for their overall consumption (Reich, 2010). Foreign exports and imports arose dramatically, increasing the yearly expansion rate of trade to about 7.4 percent. The Chinese economies share in world trade grew a little under 2 percent from the late 1800s to the mid 1900s. By the early 20th century, comparative advantage was presented all throughout their economy (Yan, 2014).