Beijing — Global shoppers will run out of smartphones and other goods before Christmas after power outages to meet official energy use targets close factories in China and expose some households to darkness Faced with possibilities. In the northeastern part of Liaoyang, 23 people were hospitalized for gas poisoning after a power outage cut off
Beijing — Global shoppers will run out of smartphones and other goods before Christmas after power outages to meet official energy use targets close factories in China and expose some households to darkness Faced with possibilities.
In the northeastern part of Liaoyang, 23 people were hospitalized for gas poisoning after a power outage cut off ventilation at a metal foundry, according to state broadcaster CCTV. No deaths have been reported.
The factory was idle so as not to exceed the energy usage limits imposed by Beijing to increase efficiency. Economists and environmental groups say manufacturers have exhausted this year’s quota earlier than planned as export demand has recovered from the coronavirus pandemic.
Apple Inc.’s iPhone parts supplier said it had stopped production at its plant in western Shanghai at the behest of a local government.
China’s vast manufacturing turmoil, one of its busy seasons, reflects the ruling Communist struggle to balance economic growth with efforts to curb climate change gas pollution and emissions.
“Beijing’s unprecedented determination to implement energy consumption restrictions can bring long-term benefits, but the short-term economic costs are significant,” said Nomura economist Tin Lu. Richen Wang and Jin Wang said in a report on Monday.
They said China’s economic growth forecast could have been lowered from 5.1% in the quarter of the previous quarter to 4.7% because the impact is so severe. They lowered their annual growth outlook from 8.2% to 7.7%.
The global financial markets are already at stake about the potential collapse of Evergrande Group, one of China’s largest real estate developers, and are struggling to avoid multi-billion dollar defaults.
Manufacturers are already facing other protracted consequences of processor chip shortages, shipping disruptions, and the global closure of travel and trade to combat the coronavirus pandemic.
Residents of northeastern China, where autumn temperatures are falling, reported a power outage and appealed to social media for the government to restore supply.
The crisis comes as world leaders prepare to attend the United Nations Conference on the Environment via Videolink, which will take place October 12-13 in southwestern Kunming. It pressures the government of President Xi Jinping, the organizer of the conference, to show that it is sticking to its emissions and energy efficiency goals.
China is one of the world’s largest emitters of climate change industrial gas, consuming more energy per economic output than developed countries.
The ruling party is also preparing for the Winter Olympics in Beijing, the capital of China, and nearby Shijiazhuang in February, when it’s time to want a clear blue sky.
Many companies have announced that electricity distribution can delay the fulfillment of orders and can be financially damaging.
Apple parts supplier Eson Precision Engineering Co. Ltd. announced on Sunday that it will suspend production at its plant in Kunshan, western Shanghai, until Thursday “in line with local government power restrictions.”
Eson said the outage should not have a “significant impact” on operations.
Apple didn’t immediately answer questions about the potential impact on the iPhone supply.
China’s energy consumption and industrial emissions are skyrocketing as manufacturers are rushing to meet foreign demand while other competitors are still hampered by anti-coronavirus control.
Macquarie Group economists Larry Fu and Shinyu Ji said the Chinese economy is “more export-driven than at any time in the last decade,” but official energy use targets do not take that into account. , Said in the report.
According to Li Shuo, a climate policy expert at Greenpeace in Beijing, some states have exhausted most of their energy consumption quotas earlier this year and are cutting them to stay within limits.
Utilities, on the other hand, are being squeezed by soaring coal and gas prices. Lee said it discourages them from increasing production because the government limits the ability to pass on costs to customers.
Lee said prices are rising “beyond what the Chinese power industry can tolerate.”
China has repeatedly launched campaigns to make its energy-intensive economy more efficient and to wipe out smog-stricken cities.
The city’s sky is visibly clear, but sudden campaigns cut off electricity, coal and gas, forcing families to quiver in unheated homes and shut down factories. ..
A shopping mall in the northeastern city of Harbin has announced that it will close its stores sooner than usual to save electricity.
In southern Guangdong, the government has instructed the public to set the thermostat of the air conditioner high even when temperatures exceed 34 ° C (93 ° F).
State Grid Corp., the world’s largest distribution company, has pledged to ensure adequate supply.
Meanwhile, state media said the local government had signed a long-term coal contract to secure the right suppliers.
Power outages in China can lead to Christmas shopping shortages in the United States
Source link Power outages in China can lead to Christmas shopping shortages in the United States