NST Online Top Stories - Google News
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| Eric Shinseki Criticized on VA Hospital Scandal - New York Times Posted: 21 May 2014 09:40 AM PDT [unable to retrieve full-text content]
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| Russia China Ink Natural Gas Deal, Celebrate - Bloomberg Posted: 21 May 2014 09:39 AM PDT We will wrap it up with a little drink of fireball whiskey. We will kick it off with what everyone is talking about. Today's theme is all about the money. First, we will start with a big international deal. Russia and china signing a long-awaited deal 10 years in the making. About $400 billion. I'm going to say that again. $400 billion. That is about the entire gdp of austria. They signed the deal earlier today. This is the chinese president. This was a complex agreement. It gives them on lot of wiggle room. It allows them to send the message that if you don't want to do business with us then we will find other partners. Not just partners, neighbors. So, can we just take a step back and remind ourselves how big russia really is? It is the largest country in the world. Everything else to the east. There is an auto lot of people -- there's a lot of land, not a lot of people. In the late 1960's, there was a border skirmish between china and the ussr and historically there has been a lot of suspicion between the two countries. Russia is very underpopulated in the east china is not underpopulated anywhere. There are fears of china expanding. They have the energy deal to look forward to. That means tapping the natural gas fields in siberia. Ultimately, they will funnel 1.3 trillion cubic feet of natural gas annually to china. This will be each year over the next 30 years. The amount of gas that the russians have agreed to supply china is about a fifth of what they are supplying western europe. If the western europeans were able to find some way to diverse affiant away from russian gas, then the russians will still need a lot more than this deal This text has been automatically generated. It may not be 100% accurate. |
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