China’s real GDP has increased continuously at surprising rate of 10% per year in recent years. Simultaneously with strong economic growth, its demand for energy is also surging rapidly. The figure 1 clearly shows about the oil consumption and production behavior of the country which tends the country to import from different countries. China produces 3798 thousand barrels per day and consumes 8200 thousand barrels per day of oil in 2009. This means that China has to import roughly 4402 thousand barrels per day to meet its consumption needs per day.
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.
Growth Population and its Effects in the Later Twentieth Century in China From the 3.68 billion people that will be added to the world population between 1995 and 2050, Asia will contribute some 2 billion. This enormous increase is due to the already massive size of the population. Most of this growth will occur in the next three decades. Between 1995 and 2025 Asia's population will grow by 1.35 billion - between 2025 and 2050 the increase is projected to be just 658 million. China is the world's largest population, estimated to be around 1.24 billion in 1998.
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 effect of this enormous growth has captured world attention, due to the fact that the large trade surplus China is with U.S has been leading to several issues in both countries. Some analysts such as ARTICLE 8 PP 5 see the huge China trade surplus with U.S as a clear indicator that China’s economical trade policies are manipulated or unfair. On the other hand, some other experts in the economic field claim that China´s surplus is a synonym of high savings rate. This paper aims to argue why China’s surplus is neither good for China nor the U.S. in terms of “exchange rate manipulation” and “high savings rate”.
Then, in July 2008 we saw a massive jump to the current record high national average of $4.50 per gallon of gasoline. Oil at this time was over $115 per barrel of light sweet crude which is the oil that American’s use in their gasoline. Currently the US oil and gasoline prices continue to increase. In the last month gasoline alone has risen almost 17 cents a gallon that’s slightly over a 5% increase (source). Compare the increase in the last month to the average yearly increase of %14 or roughly 39 cents per gallon (source).
The new Chinese middle class consumes more energy, causing China’s emissions to skyrocket during that time. In the last 10 years China has added one and a half the entire US number of coal-fired power plants. In order to reach the agreed upon cuts of up to 30% by 2030 while still maintaining growth China will have to change business as usual drastically. This is one reason for the agreed upon increase in renewable energy
Energy investments through stocks and mutual funds form the indirect route whereas investments through limited partnerships or lease agreements take the direct route. How to invest in energy? In the current economic environment where oil prices reach higher levels everyday, investment options vary from picking the right oil stocks to investing in long-term master limited partnerships. Energy stocks that be... ... middle of paper ... ...ing wind power using windmills or wind turbines to create electricity. With an annual growth rate of over 30% in the last few decades particularly in Europe, wind energy is the fastest growing renewable energy next only to the biomass energy sector.
China’s economy has grown exponentially over the last few decades. In the last three years China’s economy has grown by nearly ten percent every year. Despite this influx of money to China it has also resulted in many drawbacks. For example, China’s environment has been obliterated. China burns more coal than every country in the world combined.
Southeast Asia is the fastest growing economic in the world and such a growth will need energy policies regarding to the energy demand, supply, energy security and climate change. Population growth, rising of income, and changing of live style have raised the food price and demand within the region and global scale. Thailand’s economic has been upgraded to an upper-middle-income country from a lower-middle-income country. The annual average growth rate of Thailand’s economy is 4% between 2000 and 2010. However, the severe flooding retarded the strong economic growth in 2011.
The United States had the most revenue from tourism as their receipts rose 16% to $75 billion, followed by Spain with $45.2 billion and then in third France with $40.8 billion. Tourist arrivals rose globally by 11% to US760 million, the fastest rate of growth for some twenty years. (Bloomberg News, 2005) As far as the UK is concerned it is the world’s sixth biggest travel and tourism economy, and it accounts for 9.4% of the country’s Gross Domestic Product (GDP), as well as 2.6 million jobs. The global travel and tourism market is expected to grow 4.2% each year over the next decade and UK travel and tourism is expected to grow an equally impressive 3.1% a year over the same period (Chris Druce, Caterer and Hotelkeeper, 2006). This is without a doubt a strength to build on for the UK and global travel and tourism industry.