Some economists believe the Chinese central bank is clearly allowing its currency to rise faster than it otherwise would, in order to reduce import prices.

BBC: China to flex its financial muscles at US meeting

There currently appears to be sufficient supply of non-Iranian oil to permit foreign countries to significantly reduce their import of Iranian oil, taking into account current estimates of demand, increased production by countries other than Iran, inventories of crude oil and petroleum products, and available strategic petroleum reserves.

WHITEHOUSE: The White House

Meanwhile, import growth should slacken as firms reduce the pace of import-intensive stockbuilding.

ECONOMIST: The surprise fall in GDP

Yuan appreciation would help reduce inflation directly by lowering import prices.

FORBES: China Recalculates: Slow Down And Be Happy

Obama : I think that in ten years, we can reduce our dependence so that we no longer have to import oil from the Middle East or Venezuela.

CNN: McCain, Obama go head to head in last debate

Demand rose despite the government's efforts to reduce the metal's imports through steps such as higher import tax.

WSJ: India Trade Deficit Widens

But increasingly, car makers are making investments to assemble some units within India in an attempt to reduce the taxes as there is only a 10% tax on import of automobile parts.

BBC: India's luxury car boom fuelled by rural buyers

If Venezuela's next leader were to end the program, or even reduce the generous terms, many countries would see a shock as import bills rise (not to mention having to face a public forced to pay much higher energy prices).

CNN: After Chavez, a power vacuum

Additionally, these programs will dramatically cut the oil we consume, saving a total of 12 billion barrels of oil, and by 2025, reduce oil consumption by 2.2 million barrels a day -- as much as half of the oil we import from OPEC every day.

WHITEHOUSE: Press Briefing