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China's economy is one of the least dependent on oil and gas. Electricity is mostly coal, renewables and nuclear. Transport is increasingly electric (including
by throwaway473825 23d ago
China's economy is one of the least dependent on oil and gas. Electricity is mostly coal, renewables and nuclear. Transport is increasingly electric (including trucks). Chemicals are moving from oil and gas to coal.
If global oil and gas prices rise, Chinese electricity and transport prices are largely unaffected, unlike the rest of the world. Even the US doesn't have that kind of resilience.
However, China is a net importer of oil and gas, while the US is a net exporter, so when it comes to trade the US is the main beneficiary, although it mainly benefits one single sector.
- ericmay 23d ago> If global oil and gas prices rise, Chinese electricity and transport prices are largely unaffected, unlike the rest of the world. Even the US doesn't have that kind of resilience. This is simply inaccurate. I don't know why you or others keep repeating this. It's bizarre. How do you think China gets goods out of the country to other countries? Separately China is specifically dependent on oil and gas shipments from the Middle East. How these disruptions affect countries depends on a lot of different factors. This blasé assertion that China somehow isn't affected by oil and gas prices is not reflected in reality or China's own actions. Why do you think they're drawing on their strategic reserve?