Energy & Science
China’s Conflicting Climate and Economic Goals Roil Commodities
- Campaigns to cut emissions and conserve power hitting markets
- But Beijing also keen to rein in inflation and preserve growth
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China’s efforts to thread the needle between an often conflicting array of environmental, economic, social and geopolitical objectives are playing out in increasingly unpredictable global commodity markets.
The world’s biggest consumer of raw materials, and a major producer of some of them, is attempting to curb carbon emissions and conserve electricity, while at the same time preserving economic growth. It’s also trying to clean up its oil refining sector, improve mine safety and isn’t averse to using trade policy for geopolitical ends, as evidenced by its ban on Australian coal imports.