The energy prices are only the dusting on the cake for China. China is a giant on clay feet as it has to fallen victim to the worst flaw that could afflict any country, society, or person – hubris. Their empty cities are so poorly built that they collapse mere years after finishing. Outside the flashy major cities, it’s a dirt-poor developing country. The elites siphon off whatever money comes in to more secure destinations as they cannot trust the regime. Their internal market does not even exist if there is no export revenue, their productive population shrinks while the elderly ballon and Xi cannot take a step back as this would be akin to defeat and the Ponzi collapses.
Soaring energy prices are already wreaking havoc on Europe, but the world’s biggest buyer of gas and coal could be next