Translated by：MOS Education Group – Xunchi
Zero Hedge reported on September 28 that at least 20 provinces and regions in Communist China (accounting for more than 66% of total GDP) have imposed some form of power cuts so far. The southern industrial hub, Guangdong Province, is cutting about 10 percent of its peak power supply. The manufacturing hub of the eastern coast, Zhejiang Province, has shut down about 160 energy-intensive companies, mainly in the textile, dyeing and chemical fiber industries. Jilin Province, a major industrial center in the northeastern hinterland, has rationed power to energy-intensive heavy industries such as steel, cement and aluminum plants.
Communist China restrictions on power supply and manufacturing shutdowns are already beginning to strain supply chains. If the power crunch continues, it will cripple Communist China’s economy. Goldman Sachs told clients this week that as much as 44 percent of the Communist China’s industrial activity has been affected by the power crunch. Goldman Sachs and S&P Global Ratings, have lowered their GDP forecasts for 2021 due to rising uncertainty in the country.
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Posted by: Yuki jiang
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