China’s Growth
We’ve all heard that China is growing at a massive rate, but “something I read this morning”:http://www.theage.com.au/articles/2006/03/28/1143441151218.html just about floored me. Here’s a few quotes.
“_…China aims to increase its nuclear energy production six-fold by 2020._”
“_To achieve this, China will have to launch at least two new generators every year, with a capacity of at least 1 million kilowatts._”
Further down the article there are some specifics…
“_Another two generators are being built with plans for another 30 much more powerful reactors by 2020 that would bring annual output to about 40 gigawatts of energy._”
“_Australia, which has 40 per cent of the world’s uranium reserves, and a proven track record as a reliable resources supplier, is ideally placed to meet China’s future uranium needs. _”
It appears the numbers are realistic too. Not being a nuclear scientist I did some follow up to put this in context (see the “Context’ heading below).
What I’ve just read seems like a massive task and it puts their “growth” in a more digestible perspective. Draw your own conclusions, but I think the geographic distance between China and Australia is blinding me from what is happening over in China. Sure, they’re staggering growth is all over the papers but there’s a difference between knowing it’s happening and understanding enough to take advantage of the situation.
On top of this, I have been told that China’s stock markets are expected to be the second largest (just behind USA) by 2010. From memory, China is currently fifth largest, and the sum total of the second, third, and fourth markets only just equate to the size of the American markets.
*Context*
1 million kilowatts = 1,000,000,000 watts = 1 gigawatt
According to “wikipedia”:http://en.wikipedia.org/wiki/Nuclear_power, “_In 2005, there were 441 commercial nuclear generating units throughout the world, with a total capacity of about 368 gigawatts._”
Which means the average plant is generating 368 % 441 ~ 0.83 gigawatts.
Wikipedia goes on to say, “_The 1600MW EPR reactor being built in Olkiluoto, Finland, will be the largest in the world._”
March 28th, 2006 at 5:29 pm