China’s economic slowdown could be a key trigger of the coming global financial crisis, but one of its core drivers — China’s dwindling supplies of cheap domestic energy — is little understood by mainstream economists. All eyes are on China as the world braces itself for what a growing number of financial analysts warn could be another global economic recession. In a BBC interview to mark the 10th anniversary of the global financial crisis, Bank of England Governor Mark Carney described China as “one of the bigger risks” to global financial stability. The Chinese “financial sector has developed very rapidly, and it has many of the same assumptions that were made in the run-up to the last financial crisis,” he warned: “Could something like this happen again?… Could there be a trigger for a crisis — if we’re complacent, of course it could.” Since 2007, China’s debts have quadrupled […]