The announcement this week of the $400 energy deal for Russia to supply China with energy for 30 years might prove to be one of those seminal events in modern economic times.
To all intents and purposes, it helps ensure that China’s extraordinary growth can be maintained. Coming off the back of recent technology deals with companies in Israel and expected tie ups in India, it is clear China is now extremely well placed to be a balanced economy with a thriving export market complemented by an ever increasing domestic one.
Energy could have been a barrier to this but not anymore.
As someone who has spent the last 5 years travelling extensively to China and spends most of his life there, I am continually amazed at the progress. Seeing it first hand, It’s amazing to see a country that is no longer developing but firmly developed and expanding and growing before your very eyes