A Quote by Fiona Hill
Russia was dependent on China growing and driving the demand for its commodities: oil, gas and minerals. China was an alternative to Europe.
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Even if America tomorrow - and it won't happen overnight - but if we did reduce our demand for gas and natural gas and crude oil by a significant degree, that does have an exponential effect on producers in the Middle East, everything else being equal. But if China's demand is growing and India's demand is growing, they are not going back.
About 75% of the price of gas is really dictated by crude oil. At the heart of the issue is increasing demand over a period of many years around the world. World crude oil consumption now is close to 90 million barrels a day. Most of the growth in demand is coming from China and the developing world.
Relative to oil, however, natural gas is very cheap and very attractive. And I think that natural gas in emerging markets is very attractive. There is very little natural gas infrastructure in places such as China, where there is tremendous demand for natural gas.
Russia is a gas station masquerading as a country. It's kleptocracy, it's corruption, it's a nation that's really only dependent upon oil and gas for their economy.
Moreover, they [the Central Asian Republics] are of importance from the standpoint of security and historical ambitions to at least three of their most immediate and more powerful neighbors, namely Russia, Turkey and Iran, with China also signaling an increasing political interest in the region. But the Eurasian Balkans are infinitely more important as a potential economic prize: an enormous concentration of natural gas and oil reserves is located in the region, in addition to important minerals, including gold.
Finally, we should help developing nations like China and India curb their exponentially increasing consumption of oil and natural gas, which is driving world prices higher.
I'll tell you what the danger is for Europe. It's carrying out a cold war against Russia and pushing Russia into China's arms. That's the threat to Europe.
China is the big economic engine in Asia, so what happens is, as China growth expands, these countries in the periphery of China, whether it be Indonesia, Malaysia, Singapore, the Philippines, they end up growing with China because they become big exporters.
At the moment we are hard-wired into the European markets - 50% of our exports go to Europe - and that has not been good for the UK. So I'm not saying "make Britain entirely dependent on China". I'm saying "let's diversify a bit". When I became chancellor, China was our ninth largest trading partner. This is the world's second biggest economy. China was doing more business with Belgium than it was with Britain.
Europe has united, China is growing speedily and Russia possesses immense power in terms of fuel resources. The US administration cannot do anything about it.
Russia and China have become two great allies. They'd never be divided as they were during the Cold War Days. Russia and China together cannot be defeated: militarily, economically or morally.
If you want your energy bills to go up, you should support an ever greater dependence on foreign oil, because the rate of new discoveries is declining as demand in China and India is growing, and the price of oil and thus the price of coal will go sky high.
The Russians are turning east to the Chinese - to the Europeans' surprise. It always seemed to me that the relationship between Russia and China would shift from being based in Marx and Lenin to being based in oil and gas.
But you'll notice, you will notice that Russia and China, invariably at the United Nations, move to block American action, to repress or hem in or punish other kinds of outlaw. Who stands behind Mugabi at the United Nations? Russia and China do. Who tried successfully to prevent the United Nations from speaking with one voice on its most signal violation of its resolutions, Iraq? Russia and China, again. North Korea the same. Burma the same.
US opposition to Russia and China has entailed sanctions against Russia, and Russia in turn has made counter-sanctions against Europe. So Europe is essentially sacrificing its opportunities for trade and investment in order to remain part of NATO. It is also agreeing to bomb Syria and the Near East, creating a wave of refugees that it doesn't know what to do with.
here are economies like China's economy where it's less than a tenth [of a percent] today, although it is growing, is quite small, because of the notion that the government takes care of everything, and Europe and China, philanthropy has not been nearly of the same scale.
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