Geopolitics
China Oil Imports Collapse 4-5 Million Barrels Daily Without Economic Damage
Forward Guidance
Warsh Must Choose The Dollar Or The Bond Market | Luke Gromen
"China's imports of oil are collapsing. They're down like 4 or 5 million barrels a day. The number one driver to making the, the reason why the oil markets have not done this already has been China's ability to drop its imports by a staggering 4 to 5 million barrels a day and not economically collapse."
Groman reveals that China has absorbed a massive 4-5 million barrel per day oil import reduction without economic collapse, contradicting three-month-old consensus that China would be most harmed by the Iran blockade. He attributes this resilience to China's electric vehicle infrastructure expansion (charging up 55% year-over-year per Jeff Currie) and strategic petroleum reserves. This data point undermines assumptions about U.S. leverage in the conflict.
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