Peak oil review - Mar 1

[Javaman]

http://www.energybulletin.net/node/51763

[marginlized]

1. China's Labor Shortage

"An interesting footnote to China’s rapid economic growth is a severe labor shortage in the southeastern industrial areas. Eighteen months ago when China’s exports collapsed, millions of workers were fired and sent home to their rural villages. It appears that last year’s economic stimulus was so wide-spread that many rural workers now can find jobs closer to home and are reluctant to return to the industrial cities."

... while we have 10%+ unemployment. NYTimes also reported this recently. With China's lack of transparency, it's anyone's guess what their real growth rates are. If the yuan were allowed to float, what value it would take relative to other currencies?