China is pouring billions into green energy and is set to dominate the world's solar supply chain, according to Wood Mackenzie."China will hold more than 80 percent of the world's polysilicon, wafer, cell, and module manufacturing capacity from 2023 to 2026", Wood Mackenzie says, referring to materials key to the production of solar panels. / Photo: AP
US Treasury Secretary Janet Yellen has vowed to raise the issue in her talks with key Chinese officials this week.China is the world's biggest emitter of the greenhouse gases driving climate crisis, such as carbon dioxide. This is worrying for Washington, as the United States tries to build up its production capacity to reduce dependence on China and support its own green transition.
The"immense overcapacities in Chinese industries is not just an economic challenge for open economies, but runs the danger of provoking protectionist forces" among other countries, said Joerg Wuttke, president emeritus of the European Union Chamber of Commerce in China.
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