October 23, 2021

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China’s Power Crunch to Fuel Christmas Price Increase of Up to 15 Percent in US, Economist Warns

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From Epoch Times:
News Analysis More than half of China’s provinces have issued local power restrictions since September. The resulting widespread power outages and cuts under Beijing’s new energy policies will likely fuel global inflation by 0.5 to 1 percent, and drive a price increase of 10 to 15 percent in the United States over the Christmas season on retailed goods imported from China, an economist has said. Huang Jun, a Chinese economist who now lives in the United States, told The Epoch Times that the power outages in China will cut off one-third of the country’s production capacity. Huang was the former lead columnist for Chinese state-owned broadcaster CNTV and the former chief economist at China Enterprise Capital Union (CECU). He is now director of the Asian Real Estate Association in the United States. Affected by China’s power outages and cuts, some of the U.S. retail goods could see prices 10 to 15 …
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