The United States and Europe are trying to catch up to a rival skilled in using all the levers of government and banking to dominate global manufacturing.

But no country has come close to matching the scale and tenacity of China’s support. The proof is in the production: In 2022, Beijing accounted for 85 percent of all clean-energy manufacturing investment in the world, according to the International Energy Agency.

Now the United States, Europe and other wealthy nations are trying frantically to catch up.

  • Pilgrim@beehaw.org
    2·
    5 months ago

    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.