Xin Wang, master of ceremony Speeches: What are the existing obstacles to this and how can they be overcome? Investing in new growth sectors, accelerating industrialization, encouraging skills transfers… What are the development priorities?
In recent years, China has been undergoing a process of industrialization and is one of the fastest growing economies in the world. Its oil consumption grows by 7. Consequently, by year China is expected to have 90 times more cars than in Another contributor to the sharp increase in automobile sales is the very low price of gasoline in China.
Chinese gasoline prices now rank among the lowest in the world for oil-importing countries, and are a third of retail prices in Europe and Japan, where steep taxes are imposed to discourage gasoline use.
Where will China get its oil? At current production rates they are likely to last for less than two decades. Though during the s and s China was a net oil exporter, it became a net oil importer in and is growingly dependent on foreign oil.
A report by the International Energy Agency predicted that byChinese oil imports will equal imports by the U. But despite its efforts to diversify its sources, China has become increasingly dependent on Middle East oil.
Though historically China has had no long-standing strategic interests in the Middle East, its relationship with the region from where most of its oil comes is becoming increasingly important. But undoubtedly access to Middle East oil will become a key issue in the relations between the two powers.
Clearly, in the short term, China recognizes that its energy security is increasingly dependent on cooperation with the U.
China would like to maintain good relations with the U. But this inclination is balanced by the feeling among many Chinese leaders that the U. Although China is banking on oil development projects outside the Middle East, Beijing most likely will insist on nurturing its relations with the main oil-producing states in that region as an insurance policy.
But its attempts to gain a foothold in the Middle East and build up a long-term strategic links with countries hostile to the U.
A report by the U. This dependency is expected to increase over the coming decade. China is the number one oil and gas importer from Iran. This may indicate not only that China is interested in a militarily strong, even nuclear Iran that dominates the Gulf but also that for China, energy security considerations trump international cooperation on critical global security issues.
China also provides conventional weapons that could threaten U. This arms trafficking presents an increasing threat to U. The ties with Riyadh go back to the mids when China sold Saudi Arabia intermediate range ballistic missiles.
Since then, the relations have grown closer.Synopsis. The first of a three-volume series on the interaction of the US and China in different regions of the world, China, the United States, and the Future of Central Asia explores the delicate balance of competing foreign interests in this resource-rich and politically tumultuous region.
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• current performance and reputation of the Courts as perceived by the Forum members in relation to handling of the disputes of the future • strategic direction required for the Courts to maintain and improve their knowledge, performance and reputation regarding future IP, .
In recent decades, China and the United States have developed a pretty peculair model of economic relations. China is the largest supplier of cheap goods to the US market, and the Chinese Government, in turn, has been the largest holder of US foreign debt.
Oct 17, · The Oxford University Deutsche Bank China Centre Lecture , held 11 October at the University China Centre.