| For a long time, the Chinese economy is | | | | various number of reasons. To meet the |
| growing at an outstanding pace and I think no | | | | growing demand, China is going after securing |
| other economy saw so much expansion in the | | | | supplies from oil fields from various parts |
| last 10 years like the Chinese economy. This | | | | of the world. At the same time, since Chinese |
| growth has taken China into a new level in | | | | economy is on a ride, China can afford to |
| the world politics. Now China is gradually | | | | purchase oil at a slightly higher price than |
| being recognized as a huge economic power by | | | | other countries. The main concern for the |
| rest of the world. However, this growth means | | | | policy makers in China now to find an |
| that Chinese economy is consuming more and | | | | alternate to oil as the global oil reserve is |
| more fuels like oil, gas and coal. This | | | | diminishing at a fast pace.China is actively |
| matter is becoming a growing concern not just | | | | pursuing the development of alternative |
| for the Chinese economy but for the rest of | | | | sources of energy. China has a huge reserve |
| the world too. As a result of the Iraq War | | | | of coal and Chinese policy makers are now |
| and destabilizing condition in Middle East | | | | focusing on making the best use of its coal |
| the price of oil has remained a cause of | | | | mines. A massive initiative has been taken to |
| concern for the last 2-3 years and the | | | | extract gas from coal. If this project can |
| growing demand for Chinese economy can only | | | | become successful then many Chinese cars |
| make matters worse.Much of the time for the | | | | would run with gas instead of oil. Gas |
| last one decade Chinese GDP experienced | | | | extracted from coal will also work as source |
| nearly double digit growth rate. This way, | | | | of energy for the power plants. Another |
| Chinese economy has turned into the world's | | | | option is hydro electricity and China is |
| fourth largest now. If the current trend | | | | aggressively pushing it. Almost all the major |
| continues after 2-3 decades the Chinese | | | | rivers of Asia have originated in China. |
| economy will emerge as the largest. This | | | | However, this plan can face stiff resistance |
| means that Chinese economy will consume more | | | | from other countries who are in |
| energy in future too. The rest of the world | | | | downstream.China's worry for energy only |
| is looking at China now to see what the | | | | reminds us of the fact that we have become |
| country is doing to address this issue. China | | | | too much dependent on oil and if we do not |
| has already become the second largest | | | | give enough importance to finding alternative |
| importer of oil. This sounds to be | | | | sources for energy then the future is very |
| astonishing because only 2 decades ago | | | | bleak indeed not just for the Chinese economy |
| Chinese economy hardly needed any imported | | | | but for the world economy as a whole. The |
| oil.After the growth of Chinese GDP started | | | | time has perhaps come for us to become |
| at a double digit the demand for oil | | | | desperate for developing alternative sources |
| increased and gradually Chinese economy | | | | of energy.Razib Ahmed is a freelance writer |
| needed more and more imported oil. Another | | | | and English language teacher from Bangladesh. |
| reason for the increase in demand of oil is | | | | He mainly writes about Information and |
| the fact that the number of cars in the | | | | Communication technology, International and |
| Chinese street is increasing in a huge pace. | | | | Asian business, literature and freelance |
| In the past, China was a role model for its | | | | writing. Razib is also a freelance journalist |
| use of bicycles. This increase in demand for | | | | and translator with 10 years of experience |
| oil coupled with the rising price of oil in | | | | with him. |
| the world market in the last one decade for a | | | | |