Spot The Superpower
We came across this rather telling chart showing the net petroleum imports of the US and China. We present it on a standalone basis, as the price of oil, and certainly gas, will once again become a key sticking point in the days and weeks ahead, as always happens whenever there is either global coordinated monetary intervention, or relentless jawboning thereof. To present some context to the chart, which forecasts China overtaking the US and becoming the world's largest net oil importer in the world, the official US GDP number presented for public consumption is just under $16 trillion (or 98% of US debt), while China's is, publicly, less than half this number.
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