With 1.3 billion people, the People's Republic of China is the world's most populous country and the second largest oil consumer, behind the U.S. In recent years, China has been undergoing a process of industrialization and is one of the fastest growing economies in the world. With real gross domestic product growing at a rate of 8-10% a year, China's need for energy is projected to increase by 150 percent by 2020. to sustain its growth China requires increasing amounts of oil. Its oil consumption grows by 7.5% per year, seven times faster than the U.S.
The administration’s proposal sets out to restore the shadow banking system and all the various securities markets that have arisen in the past fifteen years or so, including credit default swaps. The underlying presumption is that these markets serve public purpose, that they can be restored, and that they should, in fact, be restored.
The presumption is not correct. - James K. Galbraith
Brought to you by the Michael Jackson CNN Network - Breaking News! The economic stimulus of Michael Jackson music sales has added 1% to the GDP (and boosted our ratings 4x).
Good Morning! Rise and Shine! Get that Cup O' Joe...
break out the O.J....hang out with the pooch...time to check out the Funnies!
It's Friday Night! Party Time! Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!
Since now all news is the Michael Jackson Channel plus health care is assuredly being shaped by insurance company lobbyists, a vein attempt to tie in is this weeks theme. I'm sure if big pharma could figure out a way to market Propofol right now, they would.
China is at it once again, to remove the dollar as the world reserve currency and they are bringing their pals, India and Russia to join in.
China will push reform of the international currency system to make it more diversified and reasonable, and to reduce excessive reliance on the current reserve currencies, the People's Bank of China said Friday.
"To avoid the shortcomings of sovereign credit currencies acting as reserve currencies, we need to create an ... international reserve currency that can maintain the long-term stability of its value," the PBOC said.
It's Friday Night! Party Time! Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!
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