Though the country is the world’s top polluter, that isn’t stopping China from leading the way on new green technology. China has begun an effort to figure out how to burn coal without releasing carbon into the atmosphere.That’s quite an ambitious goal — especially for a country that is the biggest source of carbon emissions — but one that could completely alter the future of the green industry.
And that’s not all. China is making strides in several sectors and is on the road to revolutionizing the green industry.
In an article for the Wall Street Journal, Shai Oster writes:
“China’s vast market and economies of scale are bringing down the cost of solar and wind energy, as well as other environmentally friendly technologies such as electric car batteries. That could help address a major impediment to wide adoption of such technologies: They need heavy subsidies to be economical.
The so-called China price — the combination of cheap labor and capital that rewrote the rulebook on manufacturing — is spreading to green technology. “The China price will move into the renewable-energy space, specifically for energy that relies on capital-intensive projects,” says Jonathan Woetzel, a director in McKinsey & Co.’s China office.”
The article goes on to state that China is facing some tough challenges. Their low-cost manufacturing base can slow down their innovation, or worse yet, could restrain technology advancement in other countries as well.
Read the full article here to find out more.
What do you think? What kind of an impact will China’s surge in the sustainability sector have?