If you are so silly to rely on Murdoch press for your information, then you have truly lost it.
Try google search on Export Growth of China in December, November, October, September 2020.
Go on, look at their export numbers.
Here is one from Reuters:
"
Exports rose 18.1% in December from a year earlier,
slowing from a 21.1% jump in November but beating expectations for a 15% rise. Imports increased 6.5% year-on-year last month, topping a 5% forecast and picking up pace from November’s 4.5% growth."
https://www.reuters.com/article/us-china-economy-trade-idUSKBN29J094
The fact is, they grew so fast in the second half, that they ended up with an annual growth for the whole year (despite the massive crash in the first half of the year).
They are the ONLY major economy to have grown in 2020. US crashed, UK crashed, EU crashed, Japan crashed, S E Asia crashed.
Luckily, we benefitted from that growth....as our Iron Ore and other commodities are fetching record prices!!! Just like it was during the last GFC.
And their Trade Surplus for 2020 is estimated to be $535B. Yes, that is $535 Billion dollars, the highest number, despite shutting down in the first half of the year.
"China’s exports rose in 2020 despite pressure from the coronavirus and a tariff war with Washington, boosting its politically volatile trade surplus to $535 billion, one of the highest ever reported."
https://apnews.com/article/business-global-trade-coronavirus-pandemic-china-economy-abed445292f4616fa468fce755a1d61d
And if you have any contacts in China, Hong Kong, Singapore, or
even Austrade in China, they will tell you, its BOOMING in China.
And the Power Plants have been running at Full Capacity to meet the demands of manufacturers. They are the ones consuming most of the electricity juice.
Now, unless the Chinese can build new Power Plants instantly, no amount of additional coal will change that situation. Their issue is needing more Power Plants.
They already have The Biggest Stockpile of Coal (stockpile is NOT reserve!!!), ready to be used at these power plants.
Finally, its Chinese New Year. That means nearly all the manufacturing in China have grind to a halt, as workers take 10 days of holidays.
And that means there is plenty of power available for the ordinary citizen to use.
Just in case you don't believe in the above, watch this video - watch how normal this family live their lives in China (except for showing off their two Telsa at around 2 hours 54 mins and 3 hours 25 mins).
So enjoy your envy, then go back and read the Murdoch narrative again to soothed your anger.
