China’s $460 Million-A-Day Oil Problem Has A Trump Connection

When US President Donald Trump arrives in Beijing tomorrow (May 13), Chinese President Xi Jinping may remember the financial costs that his country is paying because of the Iran war, and before that, the short operation in Venezuela, leading to a change in leadership. Both military expeditions, very different from each other, have something in common: they have hurt the Chinese economy. Today, China, the factory of the world and also, the most populous nation after India, is paying far more for its energy needs than ever before and its strategic oil reserve of 1.3-1.4 billion barrels, though still robust, is gradually decreasing in size.