China’s impact on the world energy market

China has one of the fastest growing economies in the world (photo: dpa)
China has one of the fastest growing economies in the world (photo: dpa)

China has been undergoing a massive process of industrialisation and is one of the fastest growing economies in the world. It is the world’s second largest oil consumer after the US – but its annual oil consumption is growing nearly eight times faster than that of the United States. No one doubts that the People’s Republic of China, home to 1.3 billion people, has become a world power. But will China’s energy needs have a major impact on the world energy market?

CHINA is self reliant on coal - its main energy source. Coal provides 67 per cent of its total energy consumption.

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China imports less natural gas than Belgium. In 2010, Chi...

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