Oil change

The international market can be tough sometimes, but self-sufficiency in certain resources can make things easier. China’s oil imports are increasing; it is experiencing growing pains as it pays inflated prices in a number of hard currencies.

Rising international oil prices are exerting a significant negative impact on China’s macro-economy, experts say.

…Because of the price increases, the external environment for China’s economic development also worsens, Niu says.

“It will cause a world economic development slowdown,” he says.

China Daily