The Peak Oil Crisis: China’s Year of the Tiger
With each passing day, it is becoming increasingly likely that the future of our gasoline prices and consequently our economic well-being over the next few years will be determined by what happens with China’s economy.
For over 30 years, China’s GDP has grown at an unprecedented 10 percent a year allowing for the absorption of 15 million new workers into the labor force annually. Much of this growth has been supported by ever-increasing exports as China converted itself from a backwards agricultural nation to the center of world manufacturing.
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