The energy crisis is ravaging China, as coal prices soar to unseen prices North China’s Inner Mongolia autonomous region have been ordered to boost output by nearly 100 million tons. 72 mines in the three cities There are 72 mines in 3 cities under the directive.
Hong Kong’s compulsory pension scheme MPF lost each member HK$10,800 (US$1,387) in the third quarter as China regulatory and Evergrande debt crisis converged in a perfect storm to crack markets lower.
A key guage of Commodities prices which tracks 23 energy, metals and crop futures contracts continued to surge higher over record highs set in 2011. Incredibly since hitting a four-year low in March 2020 the index has surged more than 90%.
The US trade deficit in August was $73. 3Billion up from prior month’s $70.30 billion. The China and US trade deficit rose to -$28.1B. By contrast Australia’s trade balance for August revealed a massive surplus of AUD15,077 million
General Motors $GM will invest USD300 million in Chinese autonomous vehicle startup Momenta. This investment is a strategic partnership that will support GM in building autonomous technologies for future models in China
China’s economy has been wobbling in the worse energy crisis it’s had since it’s shift to faux capitalism. Chinese factory acivity contracted in September for the first time since the pandemic began. This is just the latest sign of deceleration from by its attempt to manipulate commodity prices in its trade war with Australia with the end result being crushed by energy shortages. This has seen a rise in costs mainly caused by a sharp increase in the prices of … Continue reading “China’s Economic Deceleration Highlighted By Factory Contraction First Time Since Pandemic Begun”
Coal prices have soared with supply chain disruptions, the Chinese trade war with Australia and material shortages. By September 2021 thermal coal price have tripled from a year ago seeing Glencore’s ebitda run rate soar with prices.
Major Energy trader Vitol formed a joint venture with Chinese automaker BYD allocating an initial $250 million to expand electric vehicle and charging infrastructure. Vitol has invested over $1 billion in solar and wind energy and other, cleaner fuels.
With energy prices skyrocketing coupled with China’s clean energy transition strategy to lower emissions Zhejiang province authorities ordered around 160 energy-intensive companies to temporarily halt production.
With tensions from China escalating around the globe from trade wars to credit implosions like the Evergrande debacle just the latest. U.S. and China bilaterial Technology investment has been obliterated as they decouple their supply chains Bain and Co.reports.