China's Manufacturing Dominance in Clean Energy Industries Raises Concerns

📆 6/4/2024 4:02 am
📰 The Straits Times

⏱ Reading Time:
25 sec. here
15 min. at publisher
📊 Quality Score:
News: 58%
Publisher: 63%

Energy News

China,Manufacturing,Clean Energy

China's manufacturing dominance in clean energy industries, such as solar, electric vehicles, and batteries, is starting to worry the United States, Europe, and others. The concern is mainly about the Chinese subsidies leading to overcapacity and undercutting these sectors in other countries. US Treasury Secretary Janet Yellen plans to address this issue in her talks with Chinese officials.

China has extended its manufacturing domination to clean energy industries in recent years, alongside a global push for climate change action, but that is starting to worry the United States, Europe and others. Washington is especially concerned about “overcapacity”, where Chinese subsidies to industries such as solar, electric vehicles and batteries threaten to undercut these sectors in other countries.

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 change, such as carbon dioxide. It is also pouring billions into green energy and is set to dominate the world’s solar supply chain, according to Wood Mackenzie. A report by the analytics firm noted that China pumped more than US$130 billion (S$175 billion) into the solar industry in 202

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Can India replace China as a manufacturing powerhouse?The programme When Titans Clash looks at the shape of things to come. Indonesian President Joko Widodo (right) helping to charge an electric car at the launch of the first public electric vehicle charging station in Nusa Dua, Bali, in March 2022. (File photo: Sonny Tumbelaka/AFP)MUMBAI and JAKARTA: Last year, India had plenty to celebrate. Apple opened its first flagship store in the country and shifted a chunk of its manufacturing from China to India as well. And it was joined by many other companies. United States-based Micron Technology agreed to build a US$2.75 billion (S$3.7 billion) semiconductor facility in Gujarat state, with Micron spending up to US$825 million and India funding the rest
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

China’s green-tech manufacturing boom draws concerns about overcapacityChinese subsidies to industries such as solar and electric vehicles could undercut these sectors in other countries.
Source: straits_times - 🏆 5. / 69 Read more »