Friday, April 18, 2008

Datapoint of the day: Foreign reserves in oil terms

In 2003, oil prices were at US$25/barrel.
China's foreign reserves were US$ 400 billion.
China's foreign reserves in oil terms = 16 billion barrels

Today, oil prices are US$115/barrel.
China's foreign reserves are US$ 1.6 trillion.
Foreign reserves in oil terms = 14 billion barrels


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