Sahit Muja: China and india the world's fastest growing economies need much more gold, oil, gas and metals

Online, June 25, 2010 (Newswire.com) - China and India oil thirsty nations are already pitted against each other to secure the future of oil, metals and natural gas supplies. This demand and competition will push oil, gold, and metal prices higher. While population is rising oil, metals and natural gas demand is rising to. With 1.3 billion people, the People's Republic of China is the world's most populous country and the second largest oil consumer, behind the U.S. In recent years, China has been undergoing a process of industrialization and the fastest growing economies in the world.Gross domestic product growing at a rate of 9-10% a year, China's need for energy is projected to increase by 150 percent by 2020. to sustain its growth China requires increasing amounts of oil. Its oil consumption grows by 8% per year, seven times faster than the U.S.'
Growth in Chinese oil consumption has accelerated mainly because of China have today 100 times more cars than in 1990. With automobile numbers growing at 20% a year, sharp increase in automobile sales have been recorded in 2010.
China has boosted its holdings of gold by 73% to an estimated 1,054 metric tons.China's commodities appetite and the growing world demand for Chinese goods. These two demands are putting an upward pressure on pricing. For example, as the world's largest producer of steel, China requires a large inflow of iron ore, chrome ore and other ingredients for steel production. Commodity flows to China such as iron ore, copper and oil have all seen price increases. The persistent strength of China's demand for base metals has had much to do with the spectacular movements in base metal prices over the past year.
In recent months, China's impact on metals has been most extreme at the margin in copper and steel. The Indian economy, Asia's largest after Japan and China, is accelerating and could reach double-digit growth by 2013.

Indian economic growth has taken off since the country of some 1.2 billion people began liberalizing its economy in the early 1990s by reducing controls on foreign trade and investment.

While the country's economic expansion slowed to 6.5 percent in 2008-2009 fiscal year after averaging 9.0 percent growth in the four previous years, the growth stood in contrast to the retrenchment seen in many developed countries.

India escaped the brunt of the global financial crisis as rising incomes boosted domestic demand for cars.

The International Monetary Fund predicts the Indian economy will grow by 8.75 percent in 2010 and by 8.5 percent in 2011. Albanian Minerals expect China and India to be a key source of relentless growth in worldwide demand for oil, natural gas, copper, chrome ore, iron ore and price increases in commodities is expected do to rising demands in China and India
Sahit Muja
President & CEO
Albanian Minerals