Forwarded from RT News
China to plunge into power crunch as looming Evergrande default sends shockwaves through financial sector – media
An imminent power-supply shock is reportedly expected to hit China just as the world’s second-biggest economy is gripped with uncertainty over the probable bankruptcy of one of the country’s real estate majors, Evergrande.
The crackdown on power consumption has reportedly been triggered by surging demand for electricity, along with soaring prices for coal and gas that are exacerbated by strict targets set up by China’s authorities to cut emissions.
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An imminent power-supply shock is reportedly expected to hit China just as the world’s second-biggest economy is gripped with uncertainty over the probable bankruptcy of one of the country’s real estate majors, Evergrande.
The crackdown on power consumption has reportedly been triggered by surging demand for electricity, along with soaring prices for coal and gas that are exacerbated by strict targets set up by China’s authorities to cut emissions.
Subscribe to RT publielectoral.lat/s/rtintl
RT International
China to plunge into power crunch as looming Evergrande default sends shockwaves through financial sector – media — RT Business…
An imminent power-supply shock is reportedly expected to hit China just as the world’s second-biggest economy is gripped with uncertainty over the probable bankruptcy of one of the country’s real estate majors, Evergrande.