Six Percent for Six Percent
Posted: Fri 01 Jul 2005, 10:21:55
China's well prepared response to the outcry over CINOOC's bid for Unocal pointed to the "unfair" 25% consumption to 6% population ratio currently enjoyed by the Unted States.
Hugo Chavez has also repeatedly pointed to the out-of-balance consumption in the US as "unfair" and "excessive".
I believe this will be a growing cry worldwide as depletion takes hold, eventually leading to embargos against the United States by various producers and cartels, both existing and newly formed.
I doubt China will support embargos, at least not yet. They will likely continue to try and win the "new great game" by slowly gathering resources and manufacturing power. If the world economy tips into severe recession though, all bets are off.
Hugo Chavez has also repeatedly pointed to the out-of-balance consumption in the US as "unfair" and "excessive".
I believe this will be a growing cry worldwide as depletion takes hold, eventually leading to embargos against the United States by various producers and cartels, both existing and newly formed.
I doubt China will support embargos, at least not yet. They will likely continue to try and win the "new great game" by slowly gathering resources and manufacturing power. If the world economy tips into severe recession though, all bets are off.