Sunday, April 10, 2005


Asian tremors

People who think China is about to become the next superpower should be aware that there are serious fissures both within China and between China and its neighbors that will almost certainly prevent that. From The Guardian "Relations between Japan and China have plunged to their lowest point in more than a decade after a weekend of violent anti-Japanese protests in Beijing and other cities. In the biggest demonstration in the Chinese capital since 1999, at least 5,000 people joined a rally on Saturday in support of a boycott of Japanese goods, kicking Japanese cars and stoning the embassy." The root cause of the tension between the two nations? Oil.
If there was twice as much oil being pumped as there is now, China would be the next superpower. But China's very growth is sucking up the oil-reserve slack, which in turn is sending prices sky-high.
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