I probably fill up my car every 4-5 days so $120 a barrel oil is certainly affecting my budget. And you have to believe that $120 oil is going to affect our economy in a big way.
But how much do you think $120 oil affects a country where most people ride bicycles, buses, trains, and subways?
Asians are a heck of a lot more worried about the price of rice and cooking oil than $120 oil because they just don’t buy very much of it.
Don’t assume that $120 oil will hurt the Chinese economy as much as it will hurt ours.
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