From a transport perspective, China currently has capacity to produce about 20 million electric cars per year.
If used as taxicabs, that could replace 200 million private cars on the roads.
Then you've got electric buses and electric truck production as well.
China's (electrified) railway system will also see a lot more use.
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But if there is a prolonged oil shock, 20 million electric cars annually won't be anywhere near enough.
We'd probably see all of China's existing automobile factories switch to electric vehicles and potentially reach 50 million vehicles per year.
At the same time, demand for combustion engines vehicles will collapse globally.
The big automakers in South Korea and Japan would be particularly hard hit, and we'd probably see bankruptcy and the collapse of their automakers
We'd end up with a situation where China makes a significant majority of all cars in the world, and an export boom comprising Chinese electric vehicles.
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Then we have Chinese solar.
Looks like there are 3.5 million tonnes of polysilicon capacity in China. Of that, 2.4 million tonnes is unutilised and could produce 600GW of solar panels. Depending on location that would be 600-900TWh of additional electricity generation.
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The thing is, other countries would struggle to deploy the required infrastructure (solar + charging points+ electricity grid + batteries) like China is already doing. So we'd probably see electrification elsewhere lagging behind China.
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On manufacturing, all countries are going to suffer from high oil/gas prices.
But it looks like coal to olefin plants in China are competitive against Natural Gas from the Middle East.
10 million tons of coal-based olefin plants will come online next 2 years.