That preparation is now paying dividends. As the world’s largest importer of crude oil, China has absorbed the energy shock with surprising stability. The country has invested heavily in renewables, boasting more installed solar capacity than any other nation. Half of all new cars sold in China are electric, shielding consumers from rising fuel costs. Coal still provides about half of its electricity, and Beijing has diversified its oil sources, with Russia and Saudi Arabia as top suppliers. Overall, China’s energy self-sufficiency stands at around 80 percent.