China drops jackboot on energy bubble

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I have been wondering why it has taken China so long to get to this. It worked very well for iron ore:

China’s top economic planner is studying ways to intervene in the coal market as the government tries to rein in rising prices and curtail shortfalls that are threatening energy security and economic growth.

The National Development and Reform Commission said it’s evaluating measures to intervene in prices and has “zero tolerance” for those spreading false information or collusion in the market. The agency added that China planned to raise its coal output to 12 million tons a day and give the fuel priority for deliveries through ports and over railroads.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.