Episode 4

Black Gold, Credit Card and Global Warming

During the first half of 20th century, accompanied with economic development, and inexpensive high-energy-consumption based on fossil energy, such as petroleum, was established in a developed country model.

During this period of two World Wars the economies of Europe as well as many globally were devastated. Only America’s well-developed economy, as well as superior living condition, appeared to be the economic development model that was superior without appreciating its history of being free of the devastation for the first 50 years of economic development as a result of war.

The consideration and discussion of the question whether the American style is an inevitable trend for global economic development is of overriding importance to developing countries, especially to China.