Chinese Blackouts Are Revealing Something Much More Important About The Global Economy
Economics Explained
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China's Energy Crisis
Economies have at their core been mechanisms that value energy almost above all. Economic prosperity and, by extension, standards of living are highly correlated with access to energy. China's energy crisis actually started two years ago when the government rolled out reforms in an attempt to liberalize the energy industry in the nation. For a few reasons for starters, it's a market prone to being monopolized. It's also heavily dependent on land as a factor of production.
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