Editorial

When the power goes out, business life comes (mostly) to a complete standstill. In China, companies have had many annoying experiences with power outages. Last year, some provinces rationed electricity for weeks at a time due to a lack of coal in power plants. This year, new problems emerged: The heat wave had paralyzed the power supply of hydroelectric plants. The situation escalated even further because China does not have a functioning electricity market and other provinces were unable to step in for the affected regions.