Will power crunch be next economic shock after Evergrande?

Chinese factories across the country are ordered either to curb their activity or, in some instances, shut altogether, as Beijing’s green goals coincide with surging energy prices.
The first targets include giant manufacturers across important industries such as aluminum smelters to textiles producers and soybean processing plants.
China may be diving head first into a power supply shock that is expected to gradually hit Asia’s largest economy hard just as the Evergrande crisis sends shockwaves through the Chinese financial system.
The crackdown on power consumption is driven by rising demand for electricity and surging coal as well as gas prices according to new strict targets from Beijing to cut carbon emissions.