The "money quotes":
(B)ecause China’s oil demand has been rising along with its economy, in recent years China has been responsible for about a third of the growth in world oil consumption.So, he concludes,
As a result, oil at $100 a barrel is, in large part, a made-in-China phenomenon.
Speaking of made in China, that brings us to a second issue. There’s growing concern in this country about the effects of globalization on wages, largely because imports of manufactured goods from low-wage countries have surged, doubling as a share of G.D.P. since 1993. And more than half of that rise reflects the explosive growth of U.S. industrial imports from China, which went from less than 0.5 percent of G.D.P. in 1993 to more than 2 percent in 2006.
Last, but most important, is the issue of climate change, which will eventually be recognized as the most crucial problem facing America and the world — maybe not today, and maybe not tomorrow, but soon, and for the rest of our lives.
Why is climate change a China issue? Well, China is already, by some estimates, the world’s largest emitter of greenhouse gases. And as with oil demand, China plays a disproportionate role in emissions growth. In fact, between 2000 and 2005 China accounted for more than half the increase in the world’s emissions of carbon dioxide.
The truth is that China is too big to be bullied, and the Chinese are too cynical to be charmed. But while they are our competitors in important respects, they’re not our enemies, and they can be dealt with.Sounds like a back-door Richardson endorsement, to me...
A lot of Americans, when they think about the next president’s foreign-policy qualifications, seem to be looking for a hero — someone who will stand tall against terrorists, or transform the world with his optimism.
But what they should be looking for is something more prosaic — a good negotiator, someone who can bargain effectively with some very tough customers and get the deals we need on energy, currency policy and carbon credits.