International
How China’s energy shortage affects the global community
GUANGZHOU, China – In a world still recovering from the echo effects of the COVID-19 health crisis, one of the wealthiest nations in the international community is struggling with an energy shortage that could affect the global economy.
China’s fighting is causing problems for its international partners, according to one CNN the report.
The paper says Guangdong Province is one of several Chinese regions struggling with a power shortage caused by the triple issue of extreme weather conditions, rising energy demand and strict coal use limits.
CNN says the absence could last for months.
Guangdong, which plays a major role in international trade, serves as a home base for well-known manufacturers like Procter & Gamble, Canon and Volkswagen.
The region is responsible for $ 1.7 trillion, or more than 10%, of China’s annual economic output.
However, since the end of June, this key province has been rationing power for more than a month.
This means that Guangdong’s leading manufacturers are forced to close for a few days a week.
Other Chinese provinces that play a major role in international production and trade, such as Yunnan and Guangxi, are dealing with similar issues.
As China crosses its path towards the worst energy shortage the country has faced since 2011, its partners abroad are affected.
For example, Klaus Zenkel, president of the European Union Chamber of Commerce in South China, said China’s international partners are not happy with the suspension of operations due to power outages.
Zenkal said up to 80 of the rooms Member companies may have been affected by government orders to suspend operations for a few days a week, adding that domestic producers have been forced to shake production as well.
Some companies have even started renting expensive oil generators to continue the business, he said.
According to CNN, energy rationing in Yunnan’s main metal-producing province has caused a decline in the supply of some types of metals, such as aluminum and tin.
Production cuts and the prospect of missed delivery times across China pose a threat to an already tight global supply chain.
“She [the power shortage] could add to the transportation delays that can be felt across the globe, “said Henning Gloystein, director of energy, climate and resources at Eurasia Group.
At this time, it remains to be seen how long China’s energy shortage and subsequent output slowdown will continue.
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