A Hazardous Game – The Strait of Malacca
... 'locking-up' resources nor that they are immoral (as it is trendy to bicker online), as in reality they have little choice and China anxiously needs oil as the memory of early 2000s energy famish is still fresh. Basically, China cannot trade with OPEC smoothly as it does not give special treatment via some sort of guaranteed quotas and rivalry is fierce from traditional majors who have cemented their place over the past century. Moreover, Russia opposes equity investment and it is not corrupt to an extent that it sells major assets, nor can China engage Europe or USA as that is a political minefield. If we recall in 2005 CNOOC tried to buy USA’s Unocal, but it failed spectacularly,...