Re: Why is China ahead?
China will use any and all energy sources available, green, brown, or black. Their use of African commodities stems from Africa being the easiest to exploit due to poverty/wide spread corruption which makes it a perfect target. However, they have an eye on commodities from many other nations as well. Beyond that, China is so good at manipulation of commodities prices, they make the most hard-core traders look like choir boys by comparison. China's goal is to develop their own economy, independent of US or any other country. They are building ten Houston-sized cities per year and will have more miles of "interstate" in the next decade than the US. Last year they sold more cars than the US. Asked by the US if they intended to sign a Kyoto-type treaty, the diplomat answered "You built your economy using more energy and commodities than all other countries combined and now you want to deny us the same opportunity??....not likely!". So don’t look for a Chinese equivalent of the EPA anytime soon.
Also of interest was a statement made by a Chinese Vice Foreign minister to a US corporate consultant: “Now that the free market has failed … what do you think is the proper role for the state in the economy?”
What we are witnessing is the emergence of the new strand of state capitalism which authoritarian governments have learned to compete internationally by embracing market driven capitalism. In some sense, these governments have managed to utilize wealth creation to show their legitimacy of their rule in the country. China and Russia have successfully incorporated state capitalism after the end of Cold War. They promote companies or businesses which benefit the state and play down companies that are out of favor. And don’t think all this is going unnoticed in India!!
“If ten million people believe a foolish thing, it is still a foolish thing.” –Opus, Bloom County–