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82riceballs

If PRC was Communist, how come it still traded with other countries?

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vinhlong
Even though speculation does have a hand in the high prices, there are more fundemental reasons for the high price as well. Supply is flattening out, and demand is rising rapidly.

And many oil tankers full of oil are kept out of the harbors to artificially keep supplies low (same thing is done with diamonds). Ofcourse, if they all would deliver their supplies, we probably wouldn't have enough refineries to process them... :roll:

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Jialihai Jiejie

82riceballs,

Have you read Adam Smith's The Wealth of Nations?

Your answers can be found in his book.

Jialihai Jiejie

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ABCinChina
And many oil tankers full of oil are kept out of the harbors to artificially keep supplies low

This is why Bush decided to go to war with Iraq. Since his riches are linked with the oil industry, he's making millions from the rise in Gas prices. (I'm not entirely sure this information is accurate but please correct me if I'm wrong) But back on topic, I likes Imron's and Renzhe's explanation to why PRC just calls itself communist instead of being a full-on communist nation. "The word communist just carries so much negative connotations especially when you've grown up in the US".

Edited by ABCinChina
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