I’ve seen a lot of gloom and doom lately on some economics-oriented blogs about the sudden decrease in Chinese energy consumption. While that is a curiosity, I’m not convinced that it necessarily means anything.
This, however…. this is different. This would indicate that there really is, at this point, a sharp downturn in Chinese economic activity. I do not profess to know the “why” of it, but it does appear that, at least in China, storm clouds have begun to gather.
Given the piece of the world economy now owned by China, this could be serious for the entire world. Especially for the US, which is just now regaining its footing, and Europe, which never really has recovered from 2009. The link will take you to a CCTV broadcast (Chinese state television) in English about the drying up of foreign inflows. I cannot find anything official on the decrease in Chinese energy consumption: if you see something, drop us a link.