Andy Xie proposes a win-win trade between the world’s two largest economies that would – in one fell swoop – spark growth, cut pollution and improve the world’s most important bilateral relationship
China’s gas price is three to four times America’s and about 50 per cent higher than the liquefied natural gas landing price in Asia.
The reason is that China’s energy producers want to pass on their cost, which includes the supply contracts signed at very high prices.
China’s energy consumption may rise at 2-3 per cent per annum for the next two decades and decline after that, as population decline outweighs income growth.
At its peak, energy consumption in China would be about the same as that in the US today.
Source: SCMP
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