%T New kid on the block? China vs the US in world oil markets
%A Jamie Cross
%A Bao H. Nguyen
%A Bo Zhang

%I Centre for Applied Macroeconomic Analysis
%D 2019

%K International trade, %K Imports, %K Petrol, %K Globalisation, %K Oil, %K Energy pricing



%U https://apo.org.au/node/237776

%X China has recently overtaken the U.S to become the world largest importer of crude oil. In light of this fact, this paper formally compares contributions of demand shocks from China, the U.S and the rest of the world. It finds that China's influence on the real price of oil has increased over the past two decades and surpassed that of the United States.
%9 Working paper