It’d be great to inhabit a world where all economic growth were positive sum. They grow, we grow, everyone’s happy.
But where there’s a shortage of key resources, not everything is so rosy.
This chart, put together by HedgEye, shows a nice correlation between Chinese oil imports (measured in tons) and the price of oil, though obviously the price of oil swings more wildly.
If China keeps growing — and really, how will it not? — oil seemed destined only to go in one direction.
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