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The Sleeping Giant Awakes: Projecting Global Implications of China's Energy Consumption
Author(s) -
Zhang Jian,
Konan Denise Eby
Publication year - 2010
Publication title -
review of development economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.531
H-Index - 50
eISSN - 1467-9361
pISSN - 1363-6669
DOI - 10.1111/j.1467-9361.2010.00586.x
Subject(s) - china , economics , computable general equilibrium , consumption (sociology) , currency , energy consumption , international economics , international trade , economy , monetary economics , macroeconomics , geography , social science , archaeology , sociology , ecology , biology
China's rapid economic growth has generated a surge in energy demand that is reallocating global fuel balances. We employ a global energy computable general‐equilibrium model to analyze alternative scenarios for economic growth, Chinese currency appreciation, and oil price shocks, with a special focus on China energy markets. Imports from the Middle East, Central Asia, Russia, and Sub‐Saharan Africa are found to comprise a growing share of China's energy. Imports to China grow from 12% of world energy imports in 2010 to 17% by 2050 when over 80% of China's oil demand will be imported.