No mention in the article that China has the world’s largest annual investment in renewables like Wind and Solar. And that it continues to invest hugely in nuclear power.
Shorter Andy Xie: when you click on “Send” for that latest purchase, it’s going to make global warming worse. Hands up: guilty myself.
Snip:
My two cents’ worth is that people want goods, but they don’t want to make them. Central banks and governments are giving them free money. All they need to do is press a few buttons on the mobile phone. The orders go to the lowest-cost producer – China. And consumers like the low prices and don’t really want to know where the stuff is made.
The world has been waging war on coal. The West, in particular, has been shifting away from coal in recent years. Last year, global coal demand fell by 5 per cent due to politics and Covid-19.
As the global economy emerges from the pandemic, coal demand has shifted more to the emerging economies that are coal-dependent. The climate warriors in the West have pushed coal out of their homes, only for it to re-emerge elsewhere. The war on coal is far from won....
... Climate change activists in the West are putting pressure on fossil fuel production there, especially on coal. “Outsourcing” to China has been an easy way out. These countries can report good numbers in fighting climate change. But the global total does not reflect a proportionate cut. [More].
