"History is a wonderful thing, if only it was true"

Thursday, March 24, 2011

China and the world

I seem to see more problems than Martin does - demographic wall looming, but some interesting thoughts

FT.com / Comment & analysis / FT Columnists - How China should rule the world:
"For the first time in its long history, China is dependent on access to imports of industrial raw materials. It is already the world’s largest importer of most raw materials. For China, policy in this area is of potentially the highest importance. Its immediate interest is to gain access to the world’s resources on favourable terms. It has decided, quite reasonably, to use its cheap capital and labour to secure this end. That is not only in China’s own interests but in those of other consumers. Since resources have global prices, any increase in supply is to the benefit of all consumers."

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