context [fae/faer, fae/faer]

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Joined 5 years ago
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Cake day: February 13th, 2021

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  • thanks, i’ve been wondering about this

    China’s economy hasn’t cratered. Quite the contrary: All available data on industrial output, automobile traffic, pollution, and other economic indicators suggests that the country is humming along as normal.

    we seem to be seeing the results of a longer-term strategy. Back in 2023, many analysts were perplexed by the fact that China was dramatically ramping up its imports of crude oil and its refineries were pumping out dramatically higher amounts of gasoline and diesel, despite the fact that the country’s economy was slowing down. There appeared to be little demand for all that fuel at the time.

    Whatever the case, China simply has a lot more oil on hand than we thought.

    common w for “planning ahead”

    When it began its oil-buying spree a few years ago, there was some speculation it might be preparing for a major global crisis

    yeah, 2023 is about when this exact crisis was looking pretty inevitable. i agree.