- Jun 25, 2020
OMG. Still working or what, sexy lassie? You better go to bed. It's way too late in Beijing.
Oh common , you think we dont know that ?You do know that global shipping costs, iron ore and coal are at all time highs right?
It is all because of massive consumption by China over the past six months. China wants to drive down consumption of these things. The country is too vulnerable to external pricing. China will cut production from all-time highs. They hope this will drive down the cost of shipping, ore and coking coal.
It is not a country that is just willy nilly destroying it own economy. China is not suicidal just for your benefit
Countries like China do not get to be the world's largest economy (by PPP and consumption) by being self-destructive. Thinking it would deliberately clobber itself for fun is just magical thinking!
This video explains CCP's official pov on the tech crackdowns.
first thing no country in world would ever want to decrease its economy
if i go by your words then also, your main opponent is US and its economy is bigger than china's economy
then why would one country slow down their economy before overtaking its opponent's economy by a considerable margin ??
I'm really surprised to see that China does not have diversity of suppliers for its energy needs.Blackouts across several of China’s northern provinces switched traffic and street lights off last weekend, causing miles-long traffic jams in several cities. Residents of high-rise apartment buildings were forced to take the stairs in some cities where building management suspended elevator services to conserve electricity. On Sunday, the provincial energy administration in China’s southern Guangdong province called for residents to stop using air conditioning and rely on natural light instead of electric bulbs.
Ordinarily, Chinese authorities spare household consumers from the shock of power outages, preferring to force industrial users to scale back their energy usage first—which they have. On Sunday, several Apple and Tesla suppliers announced days-long factory closures to comply with orders from local authorities to ration electricity.
But targeting industry alone hasn't been enough. With Beijing lumbering towards its 2060 deadline of achieving a net-zero carbon economy, ordinary citizens have discovered rather suddenly that they will have to adjust, too.
The primary reasons for power shortages in the south of China are different from what's causing them in the north. The south is running low on hydropower; the north is suffering from surging coal prices.
China’s southern provinces—like the manufacturing hub of Guangdong—have suffered power shortages since June, when local officials ordered manufacturers to ration power, forcing factories to cut output.
Guangdong obtains some 30% of its electricity from hydropower, which is generated in nearby Yunnan province. But a warmer-than-average summer drained reservoirs and evaporated energy supply in Yunnan. At the same time, surging export volumes caused a spike in industrial energy demand in Guangdong, leading to a power shortage.
Yunnan’s local demand for hydropower has spiked, too. Beijing’s push to decarbonize its industrial sector prompted power-hungry aluminum smelters to relocate to the hydro-rich province. The increased presence of metalworks heightened competition for local green energy. (One loser in the energy grab? Crypto-miners, who were forced out of the province.)
China’s northern provinces—the nation's coal country—are more reliant on fossil fuels for energy than their southern counterparts. The arid and frigid north relies heavily on coal-fired power plants to generate electricity, which has made it difficult for provincial authorities to meet Beijing’s low quota for provincial carbon emissions, which the government introduced in 2019.
“A number of provinces were fingered for exceeding their emission reduction targets [in August] and so their immediate action was to start rationing power,” says David Fishman, a consultant at energy consultancy Lantau Group. Authorities rationed energy-hungry industries, like Bitcoin mining and aluminum smelting, first.
But China’s policy of emission reduction is a secondary cause of the power shortages, Fishman says. The primary culprit, he argues, is coal and gas prices which have more than doubled in China this year due to a resurgence in “post-pandemic” global demand. The problem extends beyond China. The U.K. is suffering an energy crisis so severe that it’s threatening the food supply.
But in China, the government’s tight regulation of its energy markets has forced electricity producers to swallow the rising costs of feedstock, like coal, rather than pass them on to consumers. For many of those power producers, the cost has gotten too high.
“Because of the way China’s pricing mechanisms work, energy producers have had to accept thinner and thinner margins on electricity generation until, with coal prices spiking, they just can’t justify operating anymore,” Fishman says.
With production costs ballooning, China’s energy producers are lobbying the government to permit the unthinkable: let consumers bear the cost.
Until two years ago, the government permitted energy producers to raise electricity rates a mere 10% to account for a sudden spike in operating costs. But, in October 2019, China’s state planner, the National Development and Reform Commission (NDRC), ordered a freeze on rate hikes and set no end date for the policy.
Last month, 11 power producers in north China petitioned the government to permit grid operators to increase prices for end-users. If rocketing costs can't be passed on to users, the power producers warned, those 11 companies faced bankruptcy. Early this month, the Beijing Electric Power Industry Association sounded a similar alarm.
In Guangdong on Monday—where temperatures reached 91 degrees Fahrenheit (33 degrees Celsius) and households were asked to turn off the AC—the provincial government announced it would permit generators to pass costs on to consumers. Fishman says this is a good thing.
“We’re about to find out for the first time ever just how much more Chinese consumers are willing to pay for fossil fuels,” Fishman says, adding that “if you want to have a market-driven approach to decarbonization you got to expose end-users to the true cost of their power.”
While China continues towards decarbonization, making consumers pay more for pollution will help spur that transition. The challenge for Beijing will be minimizing the disruption of forcing its people to fund the change.
Why so much lies on decarbonization climate etc etc .. why not admit its result of your wolf warrior diplomacy and being disrespectful towards other countries because of that huge insecurity despite being such a large economy ..
China’s ban on imports of Australian coal has triggered a crisis, leaving a $14bn a year industry hanging by a thread.www.mining-technology.com
do you think so??China population ll be half of what it today with in 45 years . They have to transition in to knowledge economy in this short period .
India's population ll rise till 2054 after which it ll start sliding .
In 2012 there was a 2-3 days of power outage in some north indian states. China laughed at Indian situation and their propaganda outlets touted Chinese grid system way superior to India. They even said such incidents can't happen in China because everything is run by state.So Shupa Powa China wanted to teach minion Australia a lesson... but it boomeranged BADLY and China ended up getting blackouts and electricity shortage.
Major reason for MASSIVE Power cuts in China is due to shortage of Coal since Australia is a major coal supplier. Australia gave China a STING! CCP is trying it's best to hush up the real reason and Xitler's policies are failing. Galwan skirmish was a tight slap on his super ego and now QUAD taking speed and had it's first in person meeting at UNGA.
Some Indians are disappointed since they thought that Chinese might release some fabricated email trail(firstname.lastname@example.org type emails) which would blame Raaaaa agent Om Prakash and Dhinchak Puja hacking into the Chinese GRID's.
China Power Crisis: Chinese switch to flashlights, generators amid power cuts | World News - Times of IndiaChina News: SHENYANG: People ate breakfast by the light of smartphones and shopkeepers turned on generators as cities across China enforced power cuts Wednesday t.timesofindia.indiatimes.com
Power outages across China have severely impacted factories by either slowing down the production or suspending it. Japanese financial institution, Nomura has cut down its forecast for China’s economic growth in the last quarter of 2021 to 3% from 4.4%.www.news18.com
|Thread starter||Similar threads||Forum||Replies||Date|
|Faced with many difficulties, China's economy may decelerate sharply||Indo Pacific & East Asia||2|
|Evergrande’s collapse would have ‘profound consequences’ for China’s economy||Indo Pacific & East Asia||17|
|India vs China: Economy||Economy & Infrastructure||6|
|India will lose geopolitical battles against China with a weak economy||Opinion & Analysis||11|