Current post are our groups attempt to highlight sources of China’s oil, and the amount of consumption within china. This is a good start into looking into researching China’s policies and why it is so intent on expansion.
Here are a few facts from last week’s articles that we learned:
Currently Angola exports more oil than Saudi Arabia into China
Due to the United States ambition to curtail imports of oil from Saudi Arabia, China has begun to pick up the slack- The Saudis now sell over a million barrels a day to China. This represents about a quarter of China's total imports. China is becoming a competitor on the oil market, particularly towards the United States, which could affect the relationship between China and the United States.
China is rapidly expanding and investing worldwide, including countries in Russia, Brazil, Venezuela, Kazakhstan, Ecuador and Turkmenistan.
Other countries Such as Venezuela and Russia recognize the potential market and China and are also looking to capitalize. Although for these particular countries it seems that dealing with foreign trade is turning out to be more difficult than expected.
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