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