The race to develop green technology and energy is not just one of ecological importance but also of economic. The contenders are Chinese-style capitalism and the market-oriented approach used by the United States and Europe. China is certainly putting up a good fight.
The Chinese are coming on strong…Beijing’s top leaders have made clear their intention to have their nation dominate this new industry, up and down the value ladder…[T]hey are not burdened by concerns facing their Western counterparts — such as the impact of wind turbines on landscapes, higher energy prices for consumers, or investor returns…The recession has made it tougher for Europe and America to effect meaningful climate policy change…[P]oliticians likely will find it harder to earmark additional voter money for clean technology…Instead, recession-hit Western economies are hoping the private sector can plug an estimated worldwide $150 billion annual funding gap to avoid more extreme droughts and floods.
Tags: capitalism, china, europe, green economy, green energy, green technology, United States