Power rationing in parts of China including the Yangtze area has sparked concerns of a repeat of last year’s electricity crunch but analysts do not see the same crisis this year.
U.S. Companies in Taiwan Haven't Seen ‘Appreciable' Disruptions Over China Tensions, Says AmCham Survey
Areas of the Yangtze River and China's southwestern province Sichuan province are battling a record-breaking heatwave The heatwave this year has also persisted longer — for 64 days, and is the longest since 1961, according to the China Meteorological Administration. "On a national basis, we maintain our assumption for China's power consumption to increase by a mid-to-low single digit in 2022, aligned with our latest forecast of 3.7% for China's GDP growth."The impact of this year's blackouts on the overall Chinese economy will also be different from last year'sLast year, the power outage contributed to a slowdown in GDP growth in the third quarter of the year, China's National Bureau of Statistics had said.
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