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Security and Profit in China’s Energy PolicyHedging Against Risk$
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Øystein Tunsjø

Print publication date: 2013

Print ISBN-13: 9780231165082

Published to Columbia Scholarship Online: November 2015

DOI: 10.7312/columbia/9780231165082.001.0001

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China’s Energy Security

China’s Energy Security

A New Framework for Analysis

(p.19) 2 China’s Energy Security
Security and Profit in China’s Energy Policy

Øystein Tunsjø

Columbia University Press

The key theoretical objective of the present study is to explore how hedging and risk management can explain some of the complexity that is lost in the gap between the strategic and market approaches and thereby provide a more complete understanding of China’s energy security policy. Because few studies have utilized the explanatory power of hedging and, in particular, hedging as an analytical framework for understanding China’s energy, this chapter aims to clarify the meaning of hedging, links hedging to risk management, and illustrates how this theoretical framework explains Chinese energy security policy. China’s current energy security policy deals with risks, however unlikely, and future threats. Hedging in security affairs can be thought of as a strategy to deal with current risks in order to prevent future threats.

Keywords:   China, hedging framework, energy security policy, risk management

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