Peak Oil News and Message Boards

The first modern reference to the “bao ba” may date back to the Asian financial crisis, some analysts say. China’s annual GDP growth slumped to 7.8% in 1998 and 7.6% in 1999.

TIANJIN, China — Chinese leaders have adopted a plan aimed at turning the country into one of the leading producers of hybrid and all-electric vehicles within three years, and making it the world leader in electric cars and buses after that.

The goal, which radiates from the very top of the Chinese government, suggests that Detroit’s Big Three, already struggling to stay alive, will face even stiffer foreign competition on the next field of automotive technology than they do today.

“China is well positioned to lead in this,” said David Tulauskas, director of China government policy at General Motors.

AgentR wrote:China is also the only country that has prepared itself to survive in-tact, through the global hardships that are just beginning. So no, the fantasy of some uprising and implosion of mainland China is just that; a fantasy.

For what purpose do you think China accumulated huge dollar reserves over the past decades? For a petty act of revenge? Generosity towards the US? Not at all. They saved them for the purpose of making a transition from an export market to an inward focussed market.

eastbay wrote:It's like someone eating the last loaf of bread they [Chinese- EU]have saved. When it's gone they'll need to go out and find more. One way or the other. That stepwill be interesting.

HIROSHIMA, Japan (AP) — Leaders of the world’s most powerful democracies warned China and North Korea against building up their nuclear arsenals, pivoting to major northeast Asian crises ahead of the arrival later Saturday of Ukrainian President Volodymyr Zelenskyy.

The focus on Asia at the Group of Seven summit comes as leaders tighten sanctions meant to punish Moscow and change the course of its 15-month invasion of Ukraine. Japan confirmed that Zelenskyy’s decision to attend the G7 in person stemmed from his “strong wish” to participate in talks that will influence his nation’s defense against Russia.

U.S. National Security Adviser Jake Sullivan said that President Joe Biden and Zelenskyy would have direct engagement at the summit, a day after Biden announced his support for training Ukrainian pilots on U.S.-made F-16 fighter jets, a precursor to eventually providing those aircraft to Ukraine’s Air Force.

World leaders have faced a high-stakes balancing act in Hiroshima as they look to address a raft of global worries demanding urgent attention, including climate change, AI, poverty and economic instability, nuclear proliferation and, above all, the war in Ukraine.

China, the world’s No. 2 economy, sits at the nexus of many of those concerns.

There is increasing anxiety in Asia that Beijing, which has been steadily building up its nuclear bomb program, could try to seize Taiwan by force, sparking a wider conflict. China claims the self-governing island as its own and regularly sends ships and warplanes near it.

The G7 leaders issued a statement warning that China’s “accelerating build-up of its nuclear arsenal without transparency (or) meaningful dialogue poses a concern to global and regional stability.”

North Korea, which has been testing missiles at a torrid pace in an attempt to perfect a nuclear program meant to target the mainland United States, must completely abandon its nuclear bomb ambitions, the leaders said, “including any further nuclear tests or launches that use ballistic missile technology. North Korea cannot and will never have the status of a nuclear-weapon State under” international nuclear treaties, the statement said.

The green light on F-16 training is the latest shift by the Biden administration as it moves to arm Ukraine with more advanced and lethal weaponry, following earlier decisions to send rocket launcher systems and Abrams tanks. The United States has insisted that it is sending weapons to Ukraine to defend itself and has discouraged attacks by Ukraine into Russian territory.