Rising Sun: Technology Transfer in China (Fuel for Thought: ENERGY‪)‬

China's rapid economic growth has monopolized the news in recent months. The annual gross domestic product (GDP) growth rates of around ten percent that were common in the 1990s have continued in the early years of the 21st century. China's investments in new factories, offices, and other infrastructure have driven this growth. The implications for global supplies of raw materials are considerable. In 2003, China accounted for 27 percent of world steel consumption, 31 percent of global coal demand, and 40 percent of world cement demand. As a result of this growth, China's demand for oil has also risen steeply, with imports up 40 percent in the first half of 2004. China's economic development has significant implications for national and global energy supplies. [ILLUSTRATION OMITTED]