On February 16, 2005, a report was released by the Earth Policy Institute that confirmed what most of the world already knew: China is rapidly replacing the U.S. as the world's largest consumer. The report stated that “among the five basic food, energy, and industrial commodities—grain and meat, oil and coal, and steel—consumption in China has already eclipsed that of the United States in all but oil.” China’s insatiable appetite for commodities is both obvious and frightening. The enormous nation has 1.3 billion people who all desperately desire the same luxuries that Americans now enjoy and they are willing to work hard to obtain them. As the Earth Policy Institute report concludes: “China is no longer just a developing country. It is an emerging economic superpower, one that is writing economic history. If the last century was the American century, this one looks to be the Chinese century.”
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