21:31 21 October 2021
Chinese energy crisis may also affect the Polish market
For weeks, the Chinese market has been experiencing a crisis related to the insolvency of the largest local developer, as well as other entities in the industry. This strongly translates into the results of the entire economy of China. In addition, the industry is running out of energy, which forces factory downtime. Floods prevent the extraction of more coal, so China wants to increase its imports. If winter in Europe and Asia is frosty, expensive raw materials may become even more expensive. The ongoing energy crisis in China may have serious consequences for the global coal market and may also be felt in Poland.
"The Chinese economy has been in relatively good shape at least in recent months, but recent weeks have revealed many crises, whether in the real estate market or in the energy market, related to the lack of coal supplies. There is a pandemic crisis in the world economy and if China comes to that, the overall global situation will be tough," Radoslaw Pyffel, an expert on Asia and international politics, said.
(Newseria)
