It
used to be said that when the US sneezes, the world catches a cold.
That aphorism is true now for China too. Expectations that demand from
China — the world’s largest oil importer — would rebound this year are
in doubt, potentially chilling oil markets in the months ahead.
China’s
role in new energy is perhaps even more critical. It recently claimed
the title of world’s biggest auto exporter — boosted by electric vehicle
(EV) sales. This shows how China has become increasingly adept at
leveraging innovation — both in technology and in the business models of
its energy giants.
China’s rise alarms some, amid concerns about
competition for resources and wider influence. US Secretary of State
Antony Blinken’s visit to Beijing last week signaled a softer tone from
both sides. That relationship will be tested at COP28 later this year.
To really succeed, the climate talks need the US and China to work
together — as they did to deliver the landmark Paris Agreement in 2015.
In
this week’s Conversation of the Century, we explore these topics with
some highlights from our recent coverage, alongside an opinion piece and
video interview with leading China experts from the Oxford Institute
for Energy Studies (OIES).
Joining me in this, I’m delighted to present:
- Michal Meidan, from the OIES, looking at the impact on oil market of China’s elusive recovery;
- Maryelle Demongeot and Bridget DiCosmo on the shaky US-China relationship;
- Freddie Yap, with details of the recent surge in China’s Russian oil imports;
- Kimfeng Wong, examining how China’s nuclear giant is expanding in renewables;
- Philippe Roos, with analysis of the scale of the world’s resources challenge; and
- A feature on the emerging fault lines for this year's COP28 climate summit.
- WATCH: Anders Hove, from the OIES, discussing China EV’s progress, in conversation with Energy Intelligence.
I'm Ronan Kavanagh, your guide for the Conversation of the Century. Contact me here to share your feedback or ask a question.
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