Petrochina is a very large oil company -- one of the largest in the world with a $1 trillion (US) valuation. This outstrips Exxon Mobil Corp. and General Electric Co. combined. China's economy continues its longstanding rally, as it's economy grew at around 8-9% again last year. And the economists continuing denying that this is possible. Thankfully, none has yet called China a Democracy.
The article summary on Petrochina's growth reads:
"The rally makes PetroChina shares four times more expensive than those of Exxon, even though China's biggest oil producer has a quarter of the revenue. China's stock market was valued at less than $1.1 trillion before tripling this year and giving the communist nation four of the world's 10 biggest companies, even after today's 5 percent tumble in Hong Kong stocks."
To read more on this topic, click here: http://www.bloomberg.com/apps/news?pid=20601087&sid=aQyRJI72Kor8&refer=worldwide
If these number do not make a great deal of sense, then just take this away from the article:
China is still growing like a monster, and is beginning to overtake some of the top ten major players in the West. This should frighten you. U.S. foreign policy simply is not working, and neither are most economic policies of western nations.
What we need: Less failing. More Bible.
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