Chinese Economy

p China 's Energy Policy and Regulation Abstract

China 's energy policy is fragmented at the various Governmental levels without a single declared energy policy under a separate energy ministry for a focussed attention this sector deserves . China has seen few vicissitudes in its industrial policies ever since 1978 when its reform were started to come away from the clutches of Russia 's socialist idealism which only resulted in large scale famine and food shortage Without recognising its strength in its human resources , China chose a heavy industry portfolio which is

capital intensive rather than labour intensive and got caught unawares in the increased energy requirement trap . After the firming up of reforms period , came the liberalization and China 's accession to WTO resulting in its unwittingly allowing foreign companies setting foot in China and starting again heavy industries , though it had by itself allowed starting of township village enterprises for the growth light and less energy intensive industries Once a net exporter of oil until 1993 , China now has to import oil heavily as second largest consumer in the world next to the United Sates to meet its demand for heavy industries in spite of comfortable coal reserves though reaming judiciously untapped . Once an importer of many basic items such as steel , cement , aluminium , China has started manufacturing them on its own adding burden to the energy demand Carefully planned economy would have avoided heavy reliance on oil and also saved the other countries from the ramification of fluctuating oil prices in the international market . In conclusion , China 's quest for Oil is unstoppable because of the commitments already made and in the wake of international agencies ' commitments also in the wake of liberalization sponsored by WTO of which China is a member . It will be prudent on the part of OECD countries to widen their set up to harmonise with non-OECD countries ' energy requirements

China 's Energy Policy and Regulation

Introduction

China is not a sleeping giant any longer with its insatiable need for energy seeming to be insurmountable . Construction boom in China at present has been the largest ever in the world history with the resultant demand for resources to be procured from all over the world In the last decade China has added to its urban population about 200 million people which are the current population of the entire United States . This has propelled the demand for urban housing , transportation water and sewage systems . China has joined the United States as a largest industrial nation consuming vast resources and energy and also polluting the global environment in an unparalleled manner . This all-round expansion of China is impacting the entire world economy . This nation is now the second largest consumer of energy and oil only next to the United States . Half of its oil requirement is met by imports . As for electricity demand for which has also been growing fast , the indication is that consumption would increase by 2600 gigawatts by 2050 assuming that the country adds four...