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The dependency from fossil fuels

China rust- belt province warns of more shortages in energy crisis

Beijing - The largest provincial economy in China's northeast rust belt on Monday warned of worsening power shortages despite government efforts to boost coal supply and manage electricity use in a post-pandemic energy crisis hitting multiple countries

But signs of recovery emerge

Philippine economic slump extends into Q1

Manila - The Philippine economy shrank more than expected in the first quarter, though sequential momentum showed a recovery was underway and suggested the central bank will keep rates at a record low at this week's policy review to support the revival. Gross domestic product fell 4.2% in the March quarter from a year earlier

A rebound is expected within 2021-2022

Philippines suffers first recession in 29 years

Manila - The Philippine economy fell into recession for the first time in 29 years with a record slump in the second quarter, as strict lockdown measures ravaged economic activity