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This is not China’s war, but Beijing started preparing for it years ago
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China has stockpiled increasingly large amounts of oil.
PHOTO: REUTERS
Alexandra Stevenson and Murphy Zhao
- China has prepared for energy shocks by stockpiling oil, investing in renewables, and reducing reliance on foreign resources using technology.
- Government policies and investment have shifted China from a top consumer of foreign oil and petrochemicals to a more self-reliant producer.
- China's reduced reliance on foreign oil, coupled with coal-based chemical production, allows it to offer energy assistance to countries like Vietnam.
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HONG KONG – The energy shock caused by the war in the Middle East caught China, the world’s top buyer of oil, by surprise. But Beijing has been preparing for a crisis like this for years.
