Monday February 21, 2005

China : World Number 1 Consumer

todayonline (archived) :

China is quickly overtaking the United States as the world's biggest consumer of global resources, energised by a dynamic economy that is growing at a record pace, said Washington-based research group Earth Policy Institute in a report. The report points to China's increasing consumption patterns and expanding influence on the US economy. Mr Brown says these trends are an early warning that China's rapid growth could lead to an unsustainable use of global resources.

... the report predicted that as Chinese incomes rise at a record pace, use of foodstuffs, energy, and raw materials — and sales of consumer goods — would continue to climb.

The report said China is outpacing the US in consumption of four of the five most important commodities: Grain, meat, coal and steel. The fifth, oil, is still consumed in the US at rates triple that of China at about 20.4 million barrels per day.

But while oil use in the US rose by 15 per cent from 1994 to 2004, use in the Asian giant more than doubled over the same period. China has now surpassed Japan as the world's second-largest consumer of oil after the US, said the report.

It said it was only a matter of time before China becomes the biggest guzzler of oil.

See also :

1. China replacing the United States as world's leading consumer
2. Chinese demand set to push Opec to limit
3. China and the Final war for Resources

(2005-02-21 11:12:19 SGT) [Energy] Permalink

Most popular blog postings on lowem.log :

1. Singapore MRT rail network length to double by 2020
2. 2010 Nissan Leaf electric car specifications : 107hp, 24KWh lithium-ion batteries, 100-mile range
3. Live spot gold price quotes chart on COMEX
4. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
5. AVG Anti-Virus Free Edition 2011 direct download link
6. Real-time live gold and silver price quotes chart on COMEX
7. Singapore electric vehicles : Government agencies EMA and LTA to study EV introduction
8. Book review : Shut Down by William Flynn

Featured articles on lowem.log :

1. Book review : Shut Down by William Flynn
2. Singapore electric cars testing starts with 9 electric vehicles
3. Honda, GS Yuasa JV to make lithium-ion batteries for 2010/2011 Honda Civic Hybrid
4. 2010 Honda Civic Hybrid preliminary specifications released
5. 2010 Honda CR-Z hybrid, 2010 Honda Fit/Jazz hybrid models confirmed
6. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
7. NYMEX crude oil recovers from $32.40 low after 2.2 mbpd OPEC production cut announced
8. Singapore : Nuclear power not ruled out