MOSCOW, July 24 The Chinese authorities are conducting a program for the massive construction and filling of storage facilities with food, raw materials and energy resources, presumably in case of external threats, writes the Economist.
According to the publication, since 2020, China has increased the volume of oil storage facilities from 1.7 to 2 billion barrels, and gas storage capacity from 15 billion cubic meters to 25 billion; At the same time, JPMorgan Chase Bank predicts an increase in their volume to 85 billion cubic meters by 2030. As for other raw materials, the publication mentions China's accumulation of copper, nickel and a number of other metals used in industry.
«»China appears to be stockpiling various materials at a rapid pace — and at a time when commodities are at a premium. Politicians in Beijing appear to be concerned about new geopolitical threats,» the newspaper reports.
It is noted that by the end of this year, China will own 51% of the world's wheat reserves and 67% of corn reserves. At the same time, imports of soybeans are expected to increase from 39 million tons in 2018 to 42 million by the end of this summer.
The article suggests that China may carry out such actions in preparation for an escalation of the conflict around Taiwan, but indicates that the volume of resources accumulated by China will not be sufficient in a hypothetical full-scale conflict, and what is happening looks more like a “protective measure.”
Another version voiced by the publication is preparation in the event of Donald Trump’s re-election in the US presidential elections and the deterioration of their relations with China, which could result in trade restrictions.