Economy

Climate Threat  Energy Shift
China Doubles Solar Power – Like Over 200 New Reactors

During the first half of 2025, China has expanded its solar energy capacity by a whopping 212 gigawatts, equivalent to over 200 nuclear reactors. This is a doubling compared to the same period last year, reports TT.

At the same time, the country produced 560 terawatt hours of solar power and 590 terawatt hours of wind power – an increase of 43 and 16 percent respectively. The share of solar and wind power in the mix has thus risen to 23.4 percent.

Although new coal power continues to be expanded, the entire increase in energy demand is covered by renewable energy, according to an analysis from the independent research organization Crea. The expansion is expected to continue at a high pace for the rest of the year, as China's current five-year plan expires at the end of the year.

Development of the Swedish krona
The krona is the best currency of the year

The Swedish krona maintains its position as the strongest currency of the year within the G10 group, reports TT.

Right now, the krona is trading at 9.56 against the dollar, an increase of 14.69 percent so far this year.

The Swiss franc and the euro have also strengthened against the US currency, with increases of 12.86 and 11.91 percent respectively during the same period, according to the news agency. 

Swedish debts
More stuck in debt for life – the state is investigating measures

The number of long-term debtors with the Swedish Enforcement Authority is increasing. Today, 437,000 people have registered debts. A quarter of them have been in debt for over 20 years, reports TT.

Many of these so-called eternal debtors have ended up in debt after life crises such as divorce or corporate bankruptcy. Despite the fact that debt restructuring is available as an option, few are applying.

– This may be due to myths and misconceptions about what is required, or to guilt and shame, says Erik Borgström, head of unit at the Swedish Enforcement Authority.

A government investigation is now looking at possible measures to help those in debt – including through a proposal for absolute prescription, a time limit for how long a debt can be collected.

New obesity drugs
Warning: Danish economy at risk after Novo's collapse

Denmark's economic growth is threatened when Novo Nordisk loses momentum. On Tuesday, the share price plummeted by 23 percent after the company lowered its full-year forecast, which erased almost $100 billion in market capitalization. For Danish households, this meant a loss of the equivalent of approximately 56 billion Swedish kronor in private equity portfolios, according to Sydbank. This is noted by Bloomberg.

Economists are now warning of negative effects on exports, interest rates and GDP. Novo accounted for half of the job growth in the private sector outside agriculture between 2023 and 2024, and plays a particularly important role locally in places like Kalundborg.

– Lower growth in Novo means lower GDP growth in Denmark, it’s as simple as that, Danske Bank’s chief economist Las Olsen tells the newspaper.

Despite concerns, analysts predict continued growth for Novo, but the company is considered to be in a more vulnerable position. The government is playing down comparisons with Nokia’s fall in Finland – but the similarities raise some concerns, according to the news agency.