London CNN —The United States and Europe are racing to narrow China’s commanding lead in clean energy technologies, throwing subsidies at local manufacturers and hiking tariffs on Chinese imports in a strikingly protectionist turn.
Without China’s electric vehicles (EVs), solar panels, wind turbines, and batteries, reducing planet-heating pollution could take longer and ultimately increase costs for businesses and consumers.
Beijing’s virtual monopoly on the processing of some critical minerals comes with particular risks for the global green transition.
Zhu Haipeng/VCG/APAny delay in switching to clean energy will exact a heavy toll on the planet.
Birol at the IEA also advocates for trade policies that diversify supply chains while reducing the risk of delays to the clean energy transition.
Persons:
“, Margrethe Vestager, ”, ” Fatih Birol, David G, Victor, Michael R, Davidson, ” Victor, Pierre, Olivier Gourinchas, Zhu Haipeng, Victor of, Birol, don’t
Organizations:
London CNN, Russia, Getty, ”, International Energy Agency, Global, University of California, CNN, Monetary Fund, McKinsey Global Institute, Victor of University of California, IEA
Locations:
United States, Europe, China, Lianyungang, Washington, Netherlands, Japan, Beijing, of Taicang, Suzhou, Brookings, University of California San Diego, Fuzhou, Victor of University of California San Diego