...reports in the domestic media and from foreign diplomats suggest between 1.4 trillion (US$200 bn) and 4.5 trillion yuan (US$600bn) will be invested over the next ten years in nuclear power plants, solar and wind farms, hydroelectric dams, "green transport", "clean coal" and super efficient electric grids. The consequences will be staggering. If the bigger figure proves correct, China will be spending the equivalent of its 2009 military budget on "new energy" for each of the next ten years. Even the smaller figure would mean that China, which represents just 6 per cent of the global economy, would exceed the amount the entire world invested on new power generating capacity last year, including fossil fuels. China already makes most of the world's solar panels and wind turbines. Its carmakers, such as BYD, are pushing ahead faster than established Japanese and American rivals to mass produce electric vehicles. Its carbon capture technology and high-efficiency "ultrasupercritical" coal plants are close to the global cutting edge. With the new package, the government will commit itself to developing domestic markets for these "sunrise" industries.
The consequences will be staggering. If the bigger figure proves correct, China will be spending the equivalent of its 2009 military budget on "new energy" for each of the next ten years. Even the smaller figure would mean that China, which represents just 6 per cent of the global economy, would exceed the amount the entire world invested on new power generating capacity last year, including fossil fuels.
China already makes most of the world's solar panels and wind turbines. Its carmakers, such as BYD, are pushing ahead faster than established Japanese and American rivals to mass produce electric vehicles. Its carbon capture technology and high-efficiency "ultrasupercritical" coal plants are close to the global cutting edge. With the new package, the government will commit itself to developing domestic markets for these "sunrise" industries.
The fossil fuel guys in the USA would be glad to drag the entire country into the grave with themselves.
try 'planet'...
don't forget us, america! ~"When an inner situation is not made conscious, it appears outside as fate." Karl Jung~
between 1.4 trillion (US$200 bn) and 4.5 trillion yuan (US$600bn) will be invested over the next ten years in nuclear power plants, solar and wind farms, hydroelectric dams, "green transport", "clean coal" and super efficient electric grids.
That may sound like a lot, but it's only $80 billion per year for a lot of different things (whaetever is covered by the oxy-moronic concept of "clean coal"?).
Current goals for wind in China are officially 100GW by 2020 - a number they'll get if they have zero growth in the industry for the next ten years... In the long run, we're all dead. John Maynard Keynes
