China Should Beware of Rising Material Costs: Herald

China should pay close attention to the pressure of rising material costs in the manufacturing industry and insufficient consumption amid soaring global commodity prices, said the 21st Century Business Herald in an editorial. It is however capable of ensuring food and energy security, the newspaper said. Global oil and gas prices may continue to rise after setting new records if geopolitical risks persist, as global crude oil inventories are already at very low levels and supply capacity is limited, the newspaper said. The risk of global recession will increase as major economies may encounter stagflation, the newspaper said.