Is it possible that President Hu's response will be "You and what army?" More seriously, I think that this points out what most of us may already be doing, or should be doing: exchanging paper dollars for long term oil and gas contracts, such as by buying stock in oil companies and royalty trusts. I am somewhat amazed that there has not been more discussion on the various boards I visit: it seems to me to be much cheaper to "buy" future oil and gas through the stock market, than to "save" oil and gas by investing in solar panels, etc.
Having followed that strategy for the past three years, since I became aware of peak oil, I can say that I am much better prepared to face the future than if I had invested my money in rural land, etc.
I think we all recognize that oil and gas are still relatively cheap now, and that Wall Street does not appropriately value oil and gas. North American oil and gas companies are still being sold as if oil were $45/barrel, not $70 and climbing. I wish that I had the access to the oil industry the way West Texas did, but anybody can open an account at Vanguard, for example, and buy oil and gas on the cheap, just like China is doing.