China’s Energy Crisis

... comparative analysis of the factors that informed the crises in 2011 and 2021 reveals a number of similarities. On the one hand, such parallels indicate that these phenomena may be cyclical, occurring due to economic developments and fluctuations in prices of energy sources. On the other hand, they testify to China’s failure to resolve the major contradictions in the sector in spite of the many reforms. China still lacks flexibility in diversifying its structure of power generation to mitigate the threats to its energy security—the same is true for its pricing mechanisms amid ...