Socio-economic issues:
China and the East Asian economies are developing at a phenomenal rate compared to the industrialised economies of the West. Listed below are some key indicators( which are self evident)
% change on year ago | last 12 months $bn | ||||
Nation | GDP | Industrial Production | trade balance | foreign reserves | |
latest | 12 months ago | ||||
China | +8.1 Q3 | +11.0 Sep | +35.1 Sep | 127.8 | 91.7 |
Indonesia | +8.0 (1996) | +7.1 Oct | +9.4 Jul | 19.3 Aug | 15.5 |
India | +6.8 (1996) | +9.2 Jul | -5.6 Aug | 26.8 | 18.3 |
Malaysia | +8.4 Q2 | +13.2 Aug | -0.9 Aug | 26.1 Feb | 23.1 |
Taiwan | +6.3 Q2 | +9.0 Sep | +8.9 Sep | 87.8 Aug | 86.1 |
(size of circle is proportional to size of energy demand)
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The real estimated increase between 1960 and 1998 for the three geographical segments are:
Energy Perspectives: The world’s total energy demand is growing at a phenomenal rate. Between 1960 and 1998 the increased demand will have been 247% greater than that of the 1960 total. Between 1998 and 2028 it is predicted that the increased demand will be 173% greater than that of the present year and 847% greater than that of the 1960 total. This means that the compounded average year-on-year rate of the industrialised world’s increased energy demand from 1960>1998 will have been in the order of 15.6% and between 1998 and 2028 it is predicted that this ever increasing demand, year-on-year, will be a staggering 18.75%. This vast increase in requirement should ring alarm bells in all the ‘Western’ economies. With dwindling resources we are on a major path to conflict unless science and man can resolve a growing energy crisis. |