Changsha, Hunan: New World Capital of Clean Energy ??? 30 September 2010. By David Caploe PhD, Chief Political Economist, EconomyWatch.com. For a long time, Western, esp US, media’s main “story” re Chinese economy was its “undervalued” trade-un-balancing currency – a view we have consistently rejected as naïve & irrelevant. Now it is finally understanding the REAL story re the Chinese econ: its systematic, concerted drive – at all levels of govt – to become THE global leader in clean / green / high-technology. This effort has many aspects, some seeming “unfair” to Americans, but were in fact either pioneered, or used extensively, by US during its equivalent stage of econ growth in 19th century. Lost in the complaints are two key facts: a) both the immediate & end results of this process are going to be a healthier world environment, which will benefit the US – world’s largest per capita polluter, btw – as much as anyone; & b) several companies benefiting from Chinese govt action are AMERICAN, there because they were UNABLE to get similar forward-looking help from either banks or govt at home. What follows is an extensive look at how China is attempting to pull off an amazing feat that, while it will certainly benefit itself, will be of great value to the rest of the world as well.
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