China's Global Hunt for Energy

An unprecedented need for resources is now driving China's foreign policy. A booming domestic economy, rapid urbanization, increased export processing, and the Chinese people's voracious appetite for cars are increasing the country's demand for oil and natural gas, industrial and construction materials, foreign capital and technology. Twenty years ago, China was East Asia's largest oil exporter. Now it is the world's second-largest importer; last year, it alone accounted for 31 percent of global growth in oil demand.