Key facts
- Global economy faces recession next year, report warns.
- Middle East war escalation could wreck energy supplies for years.
- AI bubble is considered ripe to burst.
A report suggests that China's coal industry could play a role in mitigating a global energy crisis. The analysis posits that escalating conflict in the Middle East could severely disrupt oil supplies for many years, coinciding with a potential burst of the artificial intelligence bubble and a looming global recession. In this scenario, China's established capacity in building coal-fired power plants presents an opportunity for it to offer energy leadership to the global market. The report also notes that high energy prices are already increasing demand for Chinese renewable energy products and electric vehicles.