Green Energy

They’ll need to stop being a authoritarian dictatorship before I give them a crumb of credit.

This is the best summary I could come up with:

China’s unrivaled production of solar panels and electric vehicles is built on an earlier cultivation of the chemical, steel, battery and electronics industries, as well as large investments in rail lines, ports and highways.

It all combined to help put China in the position today to flood rival countries with low-cost electric cars, solar cells and lithium batteries, as consumers across the wealthy world are increasingly turning to green tech.

President Biden and European leaders are determined to develop their countries’ manufacturing capacity in advanced technologies like semiconductors, electric vehicles and batteries, in part by adopting some of China’s tactics to nurture industries.

China’s rise to dominate key global manufacturing sectors showed the potential and power of national industrial policy, said Jennifer Harris, a former Biden aide who now leads the Economy and Society Initiative at the William and Flora Hewlett Foundation.

“The West’s decision to pursue neoliberal economic policies was a strategic mistake, which led to the de-industrialisation of their economies and provided China with an opportunity,” Zheng Yongnian, a professor at Chinese University of Hong Kong, said.

At a meeting last week in Italy of the Group of 7 finance ministers, leaders from both sides of the Atlantic warned that the United States and Europe must coordinate their protectionism and their subsidies if they hope to catch Beijing in the race to dominate key industries.

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They actually had an industrial policy for the last forty years, unlike the United States or Europe, which both abdicated their interests to those of giant corporations whose only goals are reducing costs and increasing profits.