Tom has a pretty good post on China’s role in restarting the global financial system. Just as America stepped in to help Europe after the end of World War II, China is able to help America now.
China will be a leader in more things than just finance. The quest to build electrical cars — and free ourselves from foreign hydrocarbons — will be largely financed by China, not just as investor, but as consumer:
Will China be the new Electric Car mecca? It has to – AutoblogGreen
Electric vehicles are striving to have a beneficial impact on the world’s economy and are stirring interest from specialized and general media outlets. Forbes, for example, has just published an article on how China is going to become or, we should say, needs to become the mecca of the Electric Car.
There has been a lot of news regarding EVs and China: a nationwide network of recharging stations, an array of hybrid and electric models (some a little bit odd). According to the Forbes editor, moving to EVs is more a necessity than some sort of inspirational eco matter. China is expected to have 700 million cars on the roads by 2050. That’s three times as more as the number of cars on U.S. roads now. Even with efficient powertrains, China would need 20 million barrels of oil per day to fuel its transportation sector, which in turn will emit about 3 billion metric tons of CO2 per year. This is unsustainable and unstable. A significant chunk of these vehicles need to use another type of energy – and electricity is what they have handy right now.
Between the Olympic War (which reminded us what Gap states do when oil prices are high) and the financial crisis (which show how the Core stands together in times of trouble), we’ve gotten back-to-back reminders of the importance of China in our world.
Presuming China survives this storm without some sort of collapse, we will have a good opportunity to reevaluate the constructive role that China can play in South Asia, South-East Asia, the Western Pacific, Western Eurasia, and Central Asia.