In China, a worsening energy crisis highlights coal dependence as it tries to transition to green sourcesto address the country’s worsening energy crisis, throwing a wrench in Beijing’s plans to reduce reliance on fossil fuels, Asia correspondent James Griffiths reports.
Cities across China have experienced major power shortages in recent weeks, leading to rolling blackouts, plant and factory shutdowns and energy rationing. The crisis is the result of several factors, including a stronger-than-expected export market, spiking global coal prices, and controls on electricity pricing that meant many power plants were operating at a loss.
if inflation proves to be more persistent than expected, the International Monetary Fund said today in its semi-annual World Economic Outlook report, also which downgraded the fund’s global growth forecast for the year.
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