China is facing widespread power shortages after pledging to cut its energy consumption to meet climate goals. Rationing was implemented last week during peak hours in some areas of northeastern China, Reuters reports. The power shortages and blackouts have impacted production at numerous factories across the country.
China is in the grip of a power crunch as a shortage of coal supplies, toughening emissions standards and strong demand from manufacturers and industry push coal prices to record highs and trigger widespread curbs on usage.
Power cuts and even blackouts have slowed or closed factories across China in recent days, adding a new threat to the country’s slowing economy and potentially further snarling global supply chains.
What people are saying?
Chris W J Roberts Chinese leaders used to be careful to balance economic interests & geopolitical realities. Now, Wolf Warrior diplomacy is venal & reactive & has lost touch with economic effects: if you stop importing coal from Australia, you have yourself to blame.
Brendan Burwood Yup. They tried to push us around with this. I wonder how long it will take for them to come back to us begging for our coal again. If they do I think we should sell it to them at a 50% markup (or more) due to “unreliable trading conditions” or some fun excuse like that.