Officially, it’s still some four decades away, but it won’t be that long that we will see a new master of the universe. China and her 1.3 billion people–twice the population of the United States and the European Union combined, have awakened and are ambitiously moving forward to become the new masters of the universe. Here’s what’s happening right now.

China now spends 35 times as much on crude oil as it did just eight years ago…and 23 times as much on copper. They consume half the world’s cement and a third of its steel.

Their economy is growing, on a long-term basis, at 4 times the speed of the united States. (In 2008 that figure might be 7-8 times.) Goldman Sachs says by 2050 China and India both will over take the U.S. economy.

Multinational and countries themselves put together huge countertrades, see:
COUNTERTRADE

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