Friday, August 19, 2022
Google search engine
HomeEconomyChina's heat wave threatens power shortages and higher pork prices

China’s heat wave threatens power shortages and higher pork prices

Dozens of cities have been experiencing record-high temperatures at a time when the economy is still trying to recover from bruising Covid-related lockdowns. The heatwave also comes as consumer inflation hits a 23-month high, mainly driven by rising food prices.

As many as 84 cities across the country on Wednesday issued their highest-level red alert warnings — which means temperatures are expected to reach over 40 degrees Celsius (104 Fahrenheit) in the coming 24 hours — according to the National Meteorological Administration. Shanghai reported 40 degrees Celsius on Sunday for the first time this year.

China’s heat wave has pushed electricity demand to extreme levels in many regions as people turn up the air conditioning.

On Tuesday, Zhejiang province — a major export and manufacturing powerhouse on the east coast — urged its 65 million residents and businesses to save power.

“In order to ensure electricity supply for residents and…

Read more…

RELATED ARTICLES
- Advertisment -
Google search engine

Latest Posts