Let me begin by saying thank you to the members of the Commission for the opportunity to testify. It is an honor to participate in this hearing.
I have been asked to speak about China’s energy requirements and policies. I am going to focus my remarks today to oil. Oil is currently the only fuel which China imports in substantial quantities and, consequently, it is the fuel that has had the largest impact on China’s international behavior in recent years.
My testimony today will briefly address several issues:
- First, I will discuss China’s energy demand, domestic supply and imports.
- Second, I will examine some of the measures China is taking to ensure its oil requirements are met.
- Third, I will address some of the implications of these measures for the United States.
The Chinese leadership has promised for years that reform was around the bend and then you see things like President Xi’s speech where he emphasized the central role of the party... Members of the business community see the Trump administration as an opportunity for the U.S. to rattle the cage in Beijing.