Is the American-Chinese Cleantech Race the new Space Race?
While United States and Chinese diplomats are working to forge cooperation between the countries on climate issues, the Chinese government’s huge clean tech investments may help that country pass the U.S. as the worldwide clean technology leader. Could this “competitiveness crisis,” as one group terms it, have implications for the U.S. economy and the clean tech industry? The results of this global race for dominance in the cleantech sector could significantly impact not only the national economy, but also the condition of the global environment. Chinese Energy Investments The Chinese are investing approximately 3% of their GDP on cleantech and renewable energy, as compared to less than half a percent of GDP in the U.S. During early summer, the Chinese government floated plans to spend at least $440 billion in another stimulus package-all of that money going toward new cleantech investment. The Chinese government also set a number of demanding goals for renewable energy and clean tech
