Billionaire Gautam Adani said China will feel increasingly isolated as rising nationalism, shifts in supply chains and technology curbs threaten the world’s second-biggest economy. China’s Belt and Road Initiative has run into resistance in many countries, challenging Beijing’s global ambitions, the world’s third-richest man told a conference in Singapore on Tuesday. The property market meltdown there has drawn comparisons with what happened to Japan during the “lost decade” of the 1990s, he added. “Critics would have us instantly get rid of all fossil fuel sources that India needs to serve large population,” he said. India, which saw power demand surge this summer as temperatures rose to a record, is also delaying shutting older coal plants and increasing mining output.

Source: Hindustan Times September 27, 2022 17:12 UTC