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China, Asia, and the New World Economy$
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Barry Eichengreen, Yung Chul Park, and Charles Wyplosz

Print publication date: 2008

Print ISBN-13: 9780199235889

Published to Oxford Scholarship Online: May 2008

DOI: 10.1093/acprof:oso/9780199235889.001.0001

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China's Coming Demand for Energy

China's Coming Demand for Energy

(p.1) 1 China's Coming Demand for Energy
China, Asia, and the New World Economy

Richard N. Cooper

Oxford University Press

This chapter analyzes the implications of China's growth for global energy markets. It begins by imagining what China will look like two decades from now: China will be the world's second largest economy but still only a third the size of the United States. Its demand for energy will grow three times as fast as that of the United States and more than eight times as fast as that of Japan if current projections are to be believed. At this point it will be consuming one of every eight barrels of oil available worldwide. It will account for nearly 40% of global coal consumption, which is more troubling given the association of coal-based power generation with greenhouse gas emissions. It will depend on foreign sources for much of this energy. It is argued that this dependence on foreign sources, together with China's lack of a large navy and strong naval tradition, will incline it toward a cooperative rather than a confrontational approach to securing its energy supplies.

Keywords:   energy demand, global energy market, energy consumption, energy supply, oil supply, cooperative approach

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