by James Corbett, The International Forecaster:
In the constant stream of 24/7 news it’s easy to lose track of the bigger picture. Case in point: China is taking over the earth. You may not have noticed this if you were just glancing at the headlines as they flitter across the newswires, but when you step back and take a look at just how fundamentally China’s position in the world has changed over the past decade, the scale of this transformation becomes staggering. With that in mind, let’s examine five signs that China is taking over the world, and what they really mean.
#1: is the world’s largest energy consumer
In July 2010 the International Energy Agency released data showing that China had overtaken the US as the world’s largest energy consumer. In their report the IEA noted that the red dragon had consumed 2.252 billion tons of oil equivalent in 2009, or about 4% more than the US.
Although some may feel that this statistic only makes sense given China’s status as the most populous nation on earth, the energy consumption measure is not demographically driven. Instead, it reflects a number of different factors, including the industrial capacity, economic activity, and overall access to technology of a nation. In this respect, it should be no surprise that the US, with its abundant resources, dominant economy, and technologically advanced society had been the world’s largest overall energy consumer since the early 1900s. And it should be equally clear what it means that China has now surpassed the US in this measure: They are catching up.
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