Constant's pations

If it's more than 30 minutes old, it's not news. It's a blog.

Tuesday, August 24, 2004

China: Subsidies keep petroleum costs well below foreign competition

Remains to be seen how long these subsidies can be kept in place, and the size of the borrowings. Watch for pressure to build to hide debt in China's creative accounting-land.

Of course, there's pressure on the US to cut subsidies which China provides.