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Why This Oil Rally Won’t Last

Why This Oil Rally Won’t Last

A combination of bullish factors…

China Eyes 30 "New Silk Road" Nuclear Reactors By 2030

Nuclear China

A senior Chinese official and former chairman of the state-owned China National Nuclear Corporation, Wang Shoujun, said that the country needs to give more support to its nuclear programs and take advantage of "the opportunities provided by the Belt and Road Initiative (BRI)," according to RT

(Click to enlarg)

Shoujun said at the China People’s Political Consultative Conference: "Going with nuclear power has already become a state strategy, and nuclear exports will help optimize our export trade and free up domestic high-end manufacturing capacity."

Shoujun added that the country needs to improve research and development of its nuclear sector, as well as localize the production of key nuclear power components. His aim is to grow both the domestic and foreign nuclear markets to "make the most of the country’s comprehensive advantages in costs and technology."

(Click to enlarge)

He also said that the country could build as many as 30 overseas nuclear reactors over the next decade as part of the BRI, which projects could bring in more than $145.5 billion to China by 2030.

41 BRI nations already have nuclear power programs or are planning to develop them. Shoujun says China only needs a 20% market share to create 5 million new jobs in the sector.

The country's "new Silk Road" BRI megaproject was announced 6 years ago by President Xi Jinping and covers 152 countries in Europe, Asia, the Middle East and Africa. The BRI is expected to increase global trade significantly, cut trading costs for many countries involved, and replace the US with China as the primary political and economic counterparty for all the countries involved.

By Zerohedge.com

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