As the world economy is collapsing and the energy demand is skyrocketing nevermind the usual hiccups, China is taking advantage by stocking up on foreign oil offering $43 billion in loans to foreign oil companies in Brazil, Venezuela, and Russia to secure future oil supplies and energy.
The China's new strategy is seeing by analysts as a powerful move especially as the state-owned oil companies in Russia, Brazil, and Venezuela are in needs of financial support. Analysts predicting that China oil import will double in few years after the recession placing China's oil loans as a sign of both opportunism and confidence that the economy will recover from the worldwide recession soon.
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