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State Grid vs Beijing: a familiar game of Chicken

Chinese Coal MinerChina is heading for a summer of energy shortages reminiscent of the 2000 California Energy Crisis. The shortages are real: China is suffering a tremendous drought, which cripples hydroelectric production and endangers China’s food system and available drinking water. If that wasn’t bad enough, shortages are also being created: international coal prices are rising, which has created a dangerous set of circumstances for China’s power producers.
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