The latest shock to China’s economy: power shortages

At least 19 of China’s provinces, including many of its industrial heartlands, have suffered power shortages in recent weeks, with some unplanned and indiscriminate cuts. In many parts of the country, the high price of coal is to blame. Ten provinces are also trying to meet strict environmental limits on energy consumption. Nomura, a bank, expects China’s GDP to shrink in the third quarter, compared with the second.