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Looking beyond the energy price shock to China’s low carbon transition

Editor’s note: Decision Makers is a global platform for decision makers to share their insights on events shaping today’s world. Martin Raiser is the World Bank’s Country Director for China, Mongolia and Korea. Sebastian Eckardt is the World Bank’s Practice Manager for Macro Economics, Trade and Investment in the East Asia and Pacific Region. The article reflects the authors’ opinions and not necessarily the views of CGTN.

The conflict in Ukraine has caused a massive shock to the global economy. Crude oil prices in early March spiked to as high as $140 per barrel, levels that were last seen in 2008. While prices have since come down from these peaks, they remain elevated, fueling already high inflation and hurting consumers and economic growth worldwide. Faced with this shock, countries everywhere are reappraising priorities, putting resilience at front and center. A renewed emphasis on food and energy…

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