China’s Belt and Road Initiative: What Does It Mean for Energy Security?

Mehmet Öğütçü[1]

Overview
China’s choices and policies matter a great deal for the world given its dominant position not only in energy, but also in investment, trade, technology, and climate change. The magnitudes are impressive. The decisions and policies by China’s energy leaders are set to have a significant bearing on all of us.

Despite the global crisis and disturbances, the “Middle Kingdom” has conquered a prominent place on almost all of the world’s playing fields [2] Beijing has positioned it self to challenge the dollar as the global reserve currency and extend its economic and geopolitical influence via the Belt and Road Initiative (BRI), a brainchild of President Xi Jinping.

China, emerging as the world s largest economy [3] based on the World Banks purchasing power parity calculations, has become an undisputed leader in world energy.

[1]Chairman, The London Energy Club (and Global Resources Partnership, UK). A former diplomat, IEA, OECD, BG Group executive. mehmetogutcu@me.com

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