China bans fuel exports to avert shortages

While China can’t avoid paying higher prices for imported crude, as a net exporter of refined petroleum products it can turn to trade barriers to shield itself from the soaring mark-up on these products. Its new ban on fuel exports seeks to achieve just that and is already helping to limit the rise in domestic prices relative to global ones. 

We'll be discussing both the domestic economic consequences and the potential global spillovers of China's new Five Year Plan in an online briefing on Tuesday. Register here.