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Oil Demand In China

1374 Words6 Pages

The demand for oil in China has grown to unprecedented levels. It is one of the leading countries in oil demand growth. China’s dependency on oil has surpassed the USA in terms of imported oil in from the Middle East. The increase in oil demand in China is the result of many economic variables, including a booming economy. The implication of such a booming economy has resulted in political shifts on a global scale for China. Furthermore, people from rural areas have been engaging in mass migration to urban areas-which has increased levels of consumerism and compounded the cycle of oil demand. The resulting urbanization has led to a widened middle class, which has been the catalyst for many social and cultural changes within modern China. These …show more content…

There has been an exceptional growth in oil demand in China over the last 20 years. There are correlations between economic output, urban migration and oil consumption-all of which explain why there has been such a seemingly unprecedented growth in oil demand in China. In comparison with other oil consuming countries, China will continue to see growth. The following report will discuss the implications in this growth, and what this means for the Chinese economy. The terms “oil demand” and “oil consumption” will be used interchangeably since a demand for oil implies that consumption will take …show more content…

This is also implicit in the notion that the economy is booming. Urbanization is taking place ubiquitously in China due to the Communist party’s population integration impetus. It was estimated that around 80 percent of the Chinese population lived in rural areas during the 1980s, whereas that figure now stands at around 47 percent-this is in part manufactured by the Chinese government in a social engineering bid to expedite urbanization; to ultimately benefit the economy6.
Urbanization inevitability leads to greater consumption, which drives an economy-increasing the demand for oil to fuel the energy sector to create the commodities. Modern China is an urbanized, consumerist, burgeoning world power that has created a crude oil bridge to the Middle East. The subtext to modern China is that there will invariably be conflict with the likes of the USA-due to conflicting interests-but the extent of this conflict remains to be seen. Another issue which arises from this newfound hyper-urbanization is that mass discrimination is pervasive in

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