In the latest quarterly survey by Nikkei and Nikkei Quick News, analysts’ average estimate of China’s gross domestic product growth in the January-March period was 4.7%, up from 4.5% in the fourth quarter of last year.
In the latest quarterly survey by Nikkei and Nikkei Quick News, analysts’ average estimate of China’s gross domestic product growth in the January-March period was 4.7%, up from 4.5% in the fourth quarter of last year.
I wouldn’t be surprised if it turns out that China is relatively less dependent on oil than USA.
Apart from the countries hardest hit, like Philippines and Thailand that already need to ration it, I think USA may be among the hardest hit rich/industrialized countries. Because USA has failed to modernize their energy infrastructure as much as China and EU.
China also knows Gulf oil is a Sword of Damocles hanging over their head, so they were more prepared than Americans who seem to (not unjustifiably tbf) believe they’re the kings of the world.
True, but that belief is seriously damaged now, with how badly the war with Iran is going.
Maybe some Americans still believe it, but the rest of the world does not.