Establishment Liberals Shocked As Globalisation Chickens Come Home to RoostEstablishment liberals have reacted with shock at the logical end result of their much-vaunted globalisation ideal as China launches a massive worldwide natural resource grab bid.
The liberal elite, typified in the readership of the Independent newspaper, have long since promoted globalisation as a way of de-industrialising the West as part of their pro-Third World mania, but probably never quite expected China to be so ruthless about its global ambitions.
Instead, it seems, they genuinely expected China to “play fair” and be equal with all other nations, as per the liberal luvvie fantasy dream world.
Hence the shock was palpable when last weekends’ Independent newspaper ran a front page headline announcing that there were “[F]ears of Chinese land grab as Beijing's billions buy up resources.”
According to that article, China is “pouring another £4.4 billion into into Brazil's oil industry, reigniting fears of a global ‘land grab’ of natural resources.
“[Chinese] State-owned Sinopec clinched the deal with Spain's Repsol yesterday to buy 40 per cent of its Brazilian business, giving China's largest oil company access to Repsol Brasil's estimated reserves of 1.2 billion barrels of oil and gas,” the breathless Independent article continued.
In addition, the shell-shocked report told its equally shell-shocked readers, Sinopec provided a $10 billion loan to Petrobras, Brazil’s state-owned oil company, “in return for guaranteed supplies of 10,000 barrels of oil every day for the next 10 years.”
As if that was not enough, the article revealed even more of the Chinese state’s natural resources power grab throughout the world: “China has continued a global spending spree of unprecedented proportions, snapping up everything from oil and gas reserves to mining concessions to agricultural land, with vast reserves of US dollars.
“This year alone, Chinese companies have laid out billions of dollars buying up stakes in Canada's oil sands, a Guinean iron ore mine, oil fields in Angola and Uganda, an Argentinean oil company and a major Australian coal-bed methane gas company.”
Of course, only a fool, or a liberal, would not have foreseen this development. It is impossible to transplant the entire manufacturing base of Britain, America and much of the West over to China in the name of globalisation and not to expect that nation to have increased demand for raw materials,
Indeed, as the Independent coyly pointed out, China already is the world’s largest consumer of oil and its annual electricity demand growth is equivalent to Britain's entire output.
The Chinese are only too aware of the upcoming peak oil shortage and are simply taking advantage of the globalisation nightmare visited upon the West to bolster its natural resources base.
This development is as logical as it is inevitable, and for the Independent to “reveal” this news as a shock-its-readers article reveals how little liberals understand of the real world, and of how the chickens they have hatched will soon come home to roost.