European Union2014.03.27. // News

He blamed the emerging powers of India and China responsible for the increase of the oil prices to sustain its economic growth. True that it influences but is not the main cause of this rising, but the runaway increase of consumption in industrialized countries. Recall that China, with a population that quadruples the USA, not more than 8% of the world demand for oil while that in the United States exceeded 25% and 18% represents the European Union. Then, we must tackle the problem from other angles. In this sense, one of the greatest experts, Paolo Scaroni, CEO of ENI (Italian society of petroleos) said that, in the U.S., in the past five years, one of every two purchased car is a 4 4 with a motor that consumes one liter of fuel every four kilometers. Therefore, American cars make an average of 7 km per litre. The European average is 13 km.

If the Americans, continues Scaroni, used vehicles similar to Europeans, save 4 million barrels by day. This is equivalent to the production of Iran, the third largest exporter. If all American, Canadian, European, Japanese and Australian cars are homogeneizasen at this level of consumption, save 10 million barrels per day, equivalent to the production of Saudi Arabia, the world’s largest producer, and more than the consumption in India and China together if the so-called Western countries, matching the most industrialized and rich of the worldthey used reasonable vehicles and Americans adopt European standards in heating and air conditioning, we could save 15 million barrels of oil a day. In round numbers, 20% of the global consumption. Everything indicates that the oil prices will rise. In the past six months to deliver within five years oil prices have increased 43%, while the so-called spot, to deliver without delay, rose 38 percent. Purchase term contracts are being negotiated more 120 dollars barrel.

Chinese Government2014.03.20. // News

The Minister of economy of Japan, Kaoru Yosano defended criticisms behind the old excuse of long-term, saying: this will not happen overnight overnight, but we must move towards an economy based on domestic market. The truth of the matter is that the Japanese economy has a clear orientation to the external markets and hardly reverse it, especially considering China’s growth which translates into an interesting potential demand growth. As if all the problems that the Japanese economy were few, in recent months, the yen has incorporated a new enemy that is making significant progress. The yuan without any doubt is emerging to make shade for the Japanese currency. The Chinese currency is braced by the political desire of the Chinese Government that this is so. China is progressing rapidly in the conclusion of trade agreements in which the yuan becomes the currency of Exchange. The policy of the Chinese Government to impose the yuan internationally is still very active. The imposition of the yuan, first at the regional level then become world reference currency, removes him (and removed) demand to the Japanese currency, which will accentuate your fall.

The competence of the yuan and the problems of the Japanese economy will not be solved in a short time, virtually condemn the fate of the yen in the medium term. Anyway, for Japan this is not bad news since despite the sayings of strengthening domestic demand as a target of the Government, the reality indicates that the external demand will be once again which helps the Japanese economy out of the situation that is. Is the future weakening of the yen a problem or a help for the economy of Japan? It should be noted how such weakening influence over inflationary pressures, but in principle can it be considered a positive factor to recompose the external strength of the economy. Clear that the competitiveness of Japan cannot be reduced to a weak exchange rate, but that it will entail far-reaching reforms in Japan’s economy.

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