13 Jan '11, 1am

how China is buying the world,

Those watching China's mammoth shopping spree in recent years might have concluded that it is all about oil or other natural resources. As the world's second-largest economy continues to boom, its hunger for resources has far outstripped its ability to produce them. From Sudan to Iran and from Australia to Afghanistan, it has sought new supplies not just of oil and coal but of copper, rubber and crops. Factories producing goods for the world need something with which to make them. "In the 1990s, oil was the first energy source in which China started becoming a net importer. Then, as time went on, gas was imported, too. In the last year it's become a net importer of coal," said Mr Zhou Xizhou, associate director of global energy consultancy IHS CERA. But take another look at PetroChina's new joint venture with the Grangemouth refinery in Scotland and it seems unlikely the C...

Full article: http://www.todayonline.com/World/EDC110113-0000212/How-Ch...

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