china's problems - australia's gains?

  1. dub
    33,892 Posts.
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    Posted: Mon, 13 Jan 2003 0:28 AEDT

    China forecasts resources crisis

    China says it faces a serious shortage of mineral resources and will be forced to increase imports drastically to meet demand over the next 20 years.

    The state-run Workers Daily says a report by the Chinese Academy of Geological Sciences calls the situation "very shocking".

    The academy says all major oilfields in China are close to running dry.

    It estimates that by the year 2020, China will need to import 70 per cent of its crude oil, or 500 million tonnes, and 50 per cent of its gas.

    Within the next 20 years it will also need to buy an extra three billion tonnes of iron, 500 million tonnes of copper and 100 million tonnes of aluminium, the academy says.
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