Western claims that China’s booming solar, EV, and battery industries are flooding global markets with 'excess' products have sparked heated debates—but one U.S. economist says the rhetoric risks backfiring. 🌍💡
Protectionism in Green Clothing?
Nicholas Lardy, a senior fellow at the Peterson Institute for International Economics, argues that labeling China’s clean-energy growth as 'overcapacity' is a thinly veiled excuse for trade restrictions. 'If every country only produced what they could sell domestically, global trade would collapse overnight,' he told Xinhua. 🛑✈️ 'Should Boeing halt exports? Should U.S. soybeans stay within borders?'
By the Numbers 📊
Data complicates the narrative: The International Energy Agency projects global EV sales will triple to 45 million by 2030. Meanwhile, China’s 2023 EV exports (1.05 million) lagged behind Germany, Japan, and South Korea. 'Overcapacity' critics, Lardy warns, risk slowing green innovation worldwide.
China’s Response 🗣️
Beijing has dismissed the claims as 'economic fearmongering.' Foreign Ministry spokesperson Lin Jian stated: 'Protectionism under any guise undermines supply chains, climate goals, and the planet’s future.' With COP29 looming, the stakes for clean-energy collaboration are higher than ever.
🤔 The takeaway? As climate deadlines loom, balancing competition and cooperation might just be the world’s biggest test. 🌱⚖️
