China Oil Demand at Risk
China’s demand will take much harder hits than those we have seen so far. The entire Chinese model is still built on the basis of being the “manufacturing canter for the world”. CIVID has shown the world that some things should probably better be produced a lot closer to home and also that localized production has some other advantages. On the other side, there are other nations such as Vietnam that are pricing China out of the market of cheap manufacturing. This has gone on for many years now and I would argue that much of China’s economy is based on grossly inflated figures. When that house of cards starts to collapse, COVID will seem like an afterthought. But collapse it must.
