China’s ban on Australian coal backfires spectacularly as electricity shortages worsen
China unofficially banned Aussie coal since October, with steel mills and power companies apparently told to steer clear. It has also emerged that more than 60 ships carrying thermal and coking coal which is almost $700 million worth of Australian goods at are stuck off China’s coast.
Beijing’s brutal bullying tactics have hit Australian businesses hard, but it turns out the communist state is shooting itself in the foot.
In China, power shortages are increasing with millions of citizens resorting to rationing their heating over winter and avoiding using elevators.
In 2019, more than half of China’s thermal coal were imported from Australia for its power stations. Also, Australia supplied 40 per cent of the nation’s imports of coking coal.
Source: New.com.au #Dec22
https://www.news.com.au/finance/business/other-industries/chinas-ban-on-australian-coal-backfires-spectacularly-as-electricity-shortages-worsen/news-story/8e888701f2766097a7658ee86a0495c8
#Australia #China #AustralianCoal #ChinaPowerPlant
China unofficially banned Aussie coal since October, with steel mills and power companies apparently told to steer clear. It has also emerged that more than 60 ships carrying thermal and coking coal which is almost $700 million worth of Australian goods at are stuck off China’s coast.
Beijing’s brutal bullying tactics have hit Australian businesses hard, but it turns out the communist state is shooting itself in the foot.
In China, power shortages are increasing with millions of citizens resorting to rationing their heating over winter and avoiding using elevators.
In 2019, more than half of China’s thermal coal were imported from Australia for its power stations. Also, Australia supplied 40 per cent of the nation’s imports of coking coal.
Source: New.com.au #Dec22
https://www.news.com.au/finance/business/other-industries/chinas-ban-on-australian-coal-backfires-spectacularly-as-electricity-shortages-worsen/news-story/8e888701f2766097a7658ee86a0495c8
#Australia #China #AustralianCoal #ChinaPowerPlant
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China’s ban on Aussie coal seriously backfires
China’s savage trade war with Australia has brought a string of industries to their knees – but now, it appears the feud has also spectacularly backfired for Beijing.