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I realise that it's oil equivalent -China has its own coal, so they won't import all that much when they can use coal.

Anyway, I'm sure they will be able to buy what they need. The question will be how all that plays out (if they use their reserves, they will no longer prop up the dollar, exchange rates will change a lot...). Still, it's clear that their huge reserves are an amazing cushion.

Earth provides enough to satisfy every man's need, but not every man's greed. Gandhi

by Cyrille (cyrillev domain yahoo.fr) on Tue May 27th, 2008 at 07:12:43 AM EST
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As much as both economists and politicians like to forget this, econometrics only gets you so far, and then politics takes over.

When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done. — John M. Keynes
by Migeru (migeru at eurotrib dot com) on Tue May 27th, 2008 at 07:24:21 AM EST
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