Letter from China: Appetite for gas shrinks

Sure it does. As I predicted a couple of years ago, the Chinese economic model fails and we see that happening right now. First, China will have to start bringing the current set of figures on China closer to the real world. And when you know how far they are apart, you know that this alone is going to be earth-shattering. All the coming stress and duress added on top will make China a problem rather than an opportunity. This means, that China has no more cash for any show-off projects. Or virtue signaling. China goes back to coal – or better said that the covering up will stop and they will blatantly do what they tried to hide for years now. But Europe needs the gas anyhow. 

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