China’s Global Times with the report, saying that “experts believe that Chinese authorities will launch new measures – including a crackdown on high coal prices – to ensure a steady electricity supply.”
The GT provide a litany of current woes:
- Nationwide power curbs, caused by many factors including a steep jump in coal prices and surging demand
- side effects at Chinese factories of all kinds, with some cutting output or halting production entirely
- Industry insiders predict the situation could worsen as the winter season draws near.
It goes on with stories of worker layoffs due to power cuts shutting production,
- all our 500 workers are off on a month-long holiday
- over 100 companies in Dafeng district, Yantian city, Jiangsu Province, facing the similar predicament.
A ‘holiday’ in China like this is not a paid holiday.
If you haven’t already, check this out:
Includes scary coal price graph:
This article was originally published by Forexlive.com. Read the original article here.