China to Secure Energy At All Costs

Bloomberg: China Orders Top Energy Firms to Secure Supplies at All Cost

China’s central government officials ordered the country’s top state-owned energy companies -- from coal to electricity and oil -- to secure supplies for this winter at all costs, according to people familiar with the matter. The order came directly from Vice Premier Han Zheng, who supervises the nation’s energy sector and industrial production, and was delivered during an emergency meeting earlier this week with officials from Beijing’s state-owned assets regulator and economic planning agency, the people said, asking not to be named discussing a private matter. Blackouts won’t be tolerated, the people said.

The Federal Reserve along with all central bankers and all governments implementing idiotic lockdown policies had better hope inflation is transitory because if it is not, China may have just fired the first real shot in competitive currency devaluations.