{"id":19023,"date":"2016-03-21T11:14:39","date_gmt":"2016-03-21T16:14:39","guid":{"rendered":"http:\/\/olduvai.ca\/?p=19023"},"modified":"2016-03-21T11:14:39","modified_gmt":"2016-03-21T16:14:39","slug":"china-hard-landing-hits-electricity-consumption","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=19023","title":{"rendered":"China Hard Landing Hits Electricity Consumption"},"content":{"rendered":"<header>\n<h3 class=\"entry-title\"><a href=\"http:\/\/wolfstreet.com\/2016\/03\/19\/china-electricity-consumption-to-sag-again-in-2016-chairman-of-power-company\/\" target=\"_blank\">China Hard Landing Hits Electricity Consumption<\/a><\/h3>\n<\/header>\n<div class=\"entry-content\">\n<p><strong>Chairman of large power company slips, apparently.<\/strong><\/p>\n<p>OK, we\u2019ve heard the official story. China is transitioning from a manufacturing economy to a consumption-based economy. Consumers are king. They\u2019re going to buy stuff. And that\u2019s going to heat up the economy.<\/p>\n<p>Imports and exports have been plunging for months, but no big deal, Chinese consumers \u2013 and there are a lot of them \u2013 are going to pull the economy forward. That\u2019s the official story.<\/p>\n<p>So now we stumble on a report on the\u00a0<a href=\"https:\/\/www.facebook.com\/PeoplesDaily\/photos\/a.191212920930533.63965.188625661189259\/1117442434974239\/\" target=\"_blank\">Facebook page<\/a>\u00a0of the\u00a0<em>People\u2019s Daily<\/em>, the official newspaper of the Chinese Communist Party. The report was helpfully in English. And it was a peculiar venue\u00a0for a report on China: Facebook is still blocked in China.<\/p>\n<p>So the fact the Communist Party rag published it in English and on a venue that is blocked in China makes it seem like this piece of information is not for the Chinese. Maybe it was slipped in by some underling over the weekend while supervisors weren\u2019t paying attention.<\/p>\n<p>That blurb reported that Qiao Baoping, chairman of state-controlled China Guodian Corp, one of the five largest power producers in China, spoke on Saturday at the China Development Forum about the overcapacity of electricity generation in China.<\/p>\n<p>The China Development Forum is a huge deal. It\u2019s organized by the State Council. Dozens of corporate chieftains from around the globe are there, as is IMF\u2019s Christine Lagarde, and other power brokers. Among them is Facebook\u2019s Mark Zuckerberg and Alibaba\u2019s Jack Ma. They shared the stage on Saturday, as\u00a0<a href=\"http:\/\/www.digitaltrends.com\/social-media\/zuckerberg-china-development-forum\/\">Digital Trends<\/a>\u00a0put it, \u201cto lavish praise upon the business cultures of America and China.\u201d It was that sort of event.<\/p>\n<p>And then Qiao Baoping gave his speech on overcapacity of electricity generation in China. Among the things he said were these nuggets, according to the\u00a0<em>People\u2019s Daily<\/em>:<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>China Hard Landing Hits Electricity Consumption Chairman of large power company slips, apparently. OK, we\u2019ve heard the official story. China is transitioning from a manufacturing economy to a consumption-based economy. Consumers are king. They\u2019re going to buy stuff. And that\u2019s going to heat up the economy. Imports and exports have been plunging for months, but [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[130,13027,7499,7411,2353,418,434,8140,4254,4255],"class_list":["post-19023","post","type-post","status-publish","format-standard","hentry","category-economics","tag-china","tag-china-development-forum","tag-electricity-consumption","tag-electricity-generation","tag-hard-landing","tag-imf","tag-international-monetary-fund","tag-peoples-daily","tag-wolf-richter","tag-wolfstreet"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/19023","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19023"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/19023\/revisions"}],"predecessor-version":[{"id":19024,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/19023\/revisions\/19024"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19023"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19023"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19023"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}