Currently the whole world is abuzz with the talk of rapid development in India and China. But with the globe already under much ecological stress from the already developed nations, the question is, will the world be able to handle two billion more people demanding a level of consumption equal to that of the West? Of course to achieve that standard of consumption, both economies will rely heavily on cheap and readily available sources of energy. This increased demand placed by both nations on the physically finite resources for energy, is expected to change the geopolitical map of the world as the two countries try to secure their energy needs for their booming economies. Another important question is whether they will chose to cooperate or compete in their quest to satifsfy their thirst for commodities. It can be assumed that the inelasticity of demand for some of these energy resources and other commodities will cause prices to rise in the short term, but hope lies in the scarcity generated in both countries driven by the size of their populations. Should they choose, they could very well lead the world in becoming energy and resource efficient societies.
|Keywords:||Energy, Geopolitics, Resource Economics|
Student, Ecology & Sustainable Development, Furman University, Greenville, South Carolina, USA
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