China’s trade war with Australia backfires, millions without power!

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  • Beijing blacklisted imports of Australian coal as part of the trade war last month 
  • Some 80 ships carrying $1.1b worth of coal are sitting off the Australian coast 
  • Coal prices have skyrocketed in China as domestic supply struggles to keep up
  • Now provincial governments are imposing restrictions on electricity usage
  • There are power outages and limits of heating and AC use during the cold winter 

Millions of Chinese residents have been left without heating in the middle of winter as cities ration electricity amid a blockade on Australian coal.

Australia provided 57 per cent of China‘s thermal coal imports in 2019, which is used to generate electricity in power stations.

But last month, Beijing blocked Australian coal imports, which has resulted in 80 ships carrying more than $1.1billion in blacklisted cargo being stranded off the Chinese coast.

Chinese coal prices were 500 yuan ($100) last month but increased 760 yuan ($153) per tonne on Wednesday, which has now resulted in restrictions on power use for millions of residents, according to South China Morning Post.

www.dailymail.co.uk/news/article-9063943/Chinas-trade-war-Australia-backfires-country-plagued-blackouts-cold-winter.html

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