Drudge Retort: The Other Side of the News
Saturday, October 09, 2021

China's energy crisis is beginning to hit people where they live, adding the risk of social instability to an economic slowdown and global supply chain disruptions.



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The impact to people's homes shows how quickly the power crisis is escalating, as China typically first asks large industrial users to curtail consumption when supply gets tight. Economists at Nomura Holdings Ltd. and China International Capital Corp. have downgraded their growth forecasts for the economy due to the electricity shortages, and cuts to factories are raising concerns of yet another wrench thrown into the works of global supply chains.

I must have had my head in the sand not to hear about this one yet. Seems like the issues are pretty serious.

#1 | Posted by GalaxiePete at 2021-10-08 05:21 PM | Reply

The average person in the USA has not even a clue as to how bad this could be for them.

#2 | Posted by BellRinger at 2021-10-09 09:01 AM | Reply

@#1 ... I must have had my head in the sand not to hear about this one yet. ...

I've seen it covered for going on a couple of weeks now, mostly Bloomberg TV. I like Bloomberg TV because they follow the stocks markets around the world as they open, and provide appropriate news.

So, starting at 9PM (ET) they have the China Markets Opening segments, where they cover financial and other news from China. They originate the show in their Hong Kong office. I learn a lot of what is going on in China from that show. For example, on a recent show the had a Hong Kong government official who actually said (with a straight face no less) that Beijing has no undue influence over the government of Hong Kong.

Another thing to watch for, the sneaker and clothing factories in Vietnam have been closing due to COVID.

Levi Straus just announced earnings, and they were OK because they use geographically diversified factories. However, companies that rely a lot upon Vietnam factories may be building some character come earnings time.

#3 | Posted by LampLighter at 2021-10-09 07:06 PM | Reply

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