Tuesday, October 12, 2021

How Bad Is China's Power Predicament? They're Turning To NORTH KOREA For Coal

From India's Republic World, October 12:

North Korean Companies Smuggle Coal To China Amid Growing Electricity Crisis: Report
China's coal shortfall results from lower imports and lower local output as Beijing strives to balance rising energy demand to minimise pollution.

Amid China's chronic power crisis, North Korean companies are breaking UN nuclear sanctions by allegedly smuggling coal to Beijing. According to Radio Free Asia, China's coal shortfall is the result of lower imports and lower local output as Beijing strives to balance rising energy demand with a goal to minimise pollution and carbon emissions. The smuggling companies are controlled by powerful government organisations, reported Radio Free Asia cited a trade official from North Pyongan province in North Korea.

The news smuggling comes as the United Nations banned coal exports in 2017. Meanwhile, according to media reports, China is experiencing an electricity crisis, which is pushing factories to curtail operations and power use, as well as resulting in outright blackouts in several areas. Meanwhile, the Foreign Policy magazine reported that the immediate cause is China's continued reliance on coal, which accounts for 70% of the country's power generation. The reasons for the crisis may also be traced back to a series of policy mistakes and poorly thought-out market interventions following the beginning of the pandemic, according to the Foreign Policy report. ...

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