In this episode Tony Hines talks about the global energy crisis and how it is impacting supply chains. Is it more than supply and demand determining prices and energy inflation. When it comes to energy supply most countries want to protect security of supply. Russia's war in Ukraine has disturbed the balance not only in Europe but across the world pushing up prices and contributing to inflationary pressure. At some point physics demands a return to equilibrium but where exactly will that be?
China has oil reserves and coal yet it is only able to meet 20 per cent of its oil demand. This was not a problem 35 years ago when China only contributed 1.6% to World GDP. Today, however it is the powerhouse of the Global Economy. It has invested heavily in rare earth minerals and it imports oil from the Persian Gulf and from states bordering its territories including Russia. Listen to how this is changing the goegraphy and security of South East Asia and the Word.