The Chinese Economy is Faltering Due to The Electricity Crisis And Real Estate

China’s economy posted its slowest pace of growth in a year in the third quarter, weighed down by electricity shortages, supply chain bottlenecks, major fluctuations in the real estate market, and increasing pressure on policymakers to do more to support a faltering recovery.

Data published on Monday showed gross domestic product growth of 4.9 percent in the July-September period from its previous level, the weakest performance since the third quarter of 2020, and missing expectations.

The world’s second-largest economy is facing several major challenges including China’s Evergrande Group debt crisis, ongoing supply chain delays, and a grinding electricity crisis, which has reduced factory production to the weakest level since early 2020/