China Eats the World
From the Commodity Research Group:
The Chinese already consume 40% more coal, 68% more meat, and 148% more steel each year than the United States. At the prevailing 8-10% growth rate in China's economy the country could reach US per capita income levels by 2030 to 2040. An expert study recently estimated that China alone would then consume 2/3rds of the entire world's current grain harvest and 4/5ths of current global meat production. Also it would require almost 120% of the present global coal production, and 125% of current global oil production.
My comment: Something has to give. China CAN'T consume 2/3rds of the world's grain harvest (especially when we seem to be turning more and more of it into ethanol). But what is the resolution of this paradox? That's part of what makes commodities so exciting to be in right now.
The Chinese already consume 40% more coal, 68% more meat, and 148% more steel each year than the United States. At the prevailing 8-10% growth rate in China's economy the country could reach US per capita income levels by 2030 to 2040. An expert study recently estimated that China alone would then consume 2/3rds of the entire world's current grain harvest and 4/5ths of current global meat production. Also it would require almost 120% of the present global coal production, and 125% of current global oil production.
My comment: Something has to give. China CAN'T consume 2/3rds of the world's grain harvest (especially when we seem to be turning more and more of it into ethanol). But what is the resolution of this paradox? That's part of what makes commodities so exciting to be in right now.
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posted by Sean Brodrick @ 7:27 PM
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