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Peking is forcing PetroChina to sell oil at a loss.

See here for more details. China is having Jimmy Carter -era lines at the gas pump.

Cheers!

10 posted on 03/27/2008 5:00:43 AM PDT by grey_whiskers (The opinions are solely those of the author and are subject to change without notice.)

"Peking is forcing PetroChina to sell oil at a loss.

See here for more details. China is having Jimmy Carter -era lines at the gas pump.

Cheers!"

Thank you! ...good job!

Well, China still owns over 150,000 of its businesses (well over half), and the PLA can order up production whenever it wants to. But China also has to please its people, or else. That's one of the consequences of communism: choices between terrible internal disobedience and violence or stupid international moves (including wars). So the PLA has to keep the economy firing as long as possible before trouble follows.