While factories in Sichuan and Chongqingin a bid to conserve energy, the Southwestern province also exports hydro-generated power to Jiangxi and Shanghai, which are starting to experience shortages.
The State Council, China's Cabinet, on Thursday announced a slew of measures targeted at bolstering growth. Analysts from French investment bank Natixis noted that the weather problems that led to a hydropower crunch come on the back of persistent pressure from the country's"zero-Covid" policy and weakness in the real estate market.
" one can control the weather. The sudden hydropower shock clearly points to climate risks and additional constraints to China's growth model in the medium term."So hot the soles of my shoes melted: Surviving a heatwave in China's hottest city Tesla even told the Shanghai government it twill have trouble keeping up production if the power crunch continues.
But given the extreme weather, this is unlikely to happen in time for winter, as power use will once again spike when people start turning on heaters in the winter.
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