Quote:
Originally Posted by pawoSD
I bet all the yearly interest the USA pays to China for our national debt funds the money pool they use to subsidize cheap fuel to their population. Ironic circle isn't it?  We are paying China money that they can then use to give out cheap fuel....and thus use more....and thus raise our prices even higher due to demand. Crazy stuff.  |
The "problem" with china is that their energy consumption is going to increase enormously in the next couple of decades, they have over 4 times the population of the U.S., and their economy is currently growing at over 10 percent. It's not that their economy is dependent on the U.S., it's the other way around. If china crashes, we are all going to have problems, if/when they approach western per-capita energy consumption, the cost of energy is going way up. Either way, the tail isn't going to wag the dog. If the west is smart (unlikely), they will start selling alternative energy technologies to china (and india) before their fossil fuel consumption gets close to western levels. Things will get very interesting in about 20 years.