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Michael Pettis on What Evergrande Means for China’s Macro Economy
Odd Lots
Energy Crisis - How Does It Affect China's Economy?
The energy crisis in china is impacting the adjustment process that you described. How big a deal is it for china's overall economy? Well, it certainly doesn't help. In retrospect, we probably should have seen it coming based on high school econ mics. One way is to allow electricity prices to rise substantially. Another way is for the government to subsidize the losses borne by the power companies. And then the third way is to force the power companies to eat the losses.
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