China POWER CRUNCH threatens global supply chain CRISIS
China POWER CRUNCH threatens global supply chain CRISIS (Bloomberg)
Over half of China’s provinces are already limiting power usage, with manufacturers warning electricity usage cuts will SLASH the output in the country’s major powerhouse provinces of Jiangsu, Zhejiang and Guangdong, which account for almost a THIRD of China’s GDP, according to Bloomberg.
This comes as producers and suppliers rush to meet the demand ahead of the end of the year shopping season.
Stricter environmental targets, dramatic rise of the energy prices and coal shortages have all concocted a perfect storm that looks set to hit major companies such as Apple or Tesla, with a number of key suppliers saying they are forced to halt production.