Energy Security in the Asia Pacific Region

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ENERGY SECURITY IN THE ASIA PACIFIC REGION To meet China's fast rising energy demands, Chinese leaders exerted great effort with a market-oriented approach and a state-centered approach. The market-oriented approach look for energy safety by better assimilation of national and international markets …state intervention would be restricted to the dispersal of data in a multilateral context, the help of innovation, and, for few management of a strategic oil reserve which would be applied in case of fleeting supply interruption. In contrast, the state-centered approach is based upon neo-mercantilist a thought that relies on bilateral diplomatic contacts with oil producing countries to strengthen energy security by the use of national resource and state-owned enterprise investments in overseas energy resources and firm control of exports and imports of energy products. Though market-oriented economic change has been the way of post-Mao reforms, the market-oriented approach has not increased momentum in the energy division because the Chinese leadership has mull over China's energy security tactically 'too significant to be left to market forces alone'. Taking over offices in 2002, 'President Hu Jintao and Premier Wen Jiabao decided that securing unwavering supplies of petroleum and added scare resources was not merely critical to maintained economic development, but also essential to China's national security'. Within 2003, Premier Wen Jiabao made official a seven small
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