The United States wants to persuade China to dial back its green energy industrial strategy as the Biden administration subsidizes its own supply chain.
  • jonne@infosec.pubEnglish
    20·
    7 months ago

    WTF, why would you try to curb the installation of green energy generation during this climate crisis?

    • ChicoSuave@lemmy.worldEnglish
      16·
      7 months ago

      The people who delayed the process to move to more green energy are also the people who have the money and want to keep it. They thought that by not making the tools for green energy, the public would not move to it. Their poor planning and short sighted goals have allowed other countries, specifically China, to seize the lead in manufacturing power infrastructure and only now have those greedy decision makers realized how bad their decisions suck balls and how much it will cost them. Their only option to counter the free market and the freely made purchasing decisions of a public who is keenly aware of climate change is to close the border and not let in that new green tech.

      This is what it looks like to see someone on the wrong side of history. They will become irrelevant and then ignored before being forgotten. But it’s the bed they made.

    • zabadoh@ani.socialEnglish
      72·
      7 months ago

      Yellen’s basically saying the Chinese are selling green energy products below cost, aka “dumping” without actually using the word, which would be an accusation of unethical conduct.

      Foreign manufacturers, especially those with nation-state support, do “dumping” to grab market share and destroy local competition. The foreign companies eat the initial losses, but then they can raise prices after local companies are destroyed, acquired, or hopelessly behind and competition has been effectively eliminated.

      • jonne@infosec.pubEnglish
        10·
        7 months ago

        But that’s not what’s actually happening, and even if it was, you just need to subsidise those industries in your own country to account for that, and everyone gets more green energy.

  • AutoTL;DR@lemmings.worldBEnglish
    3·
    7 months ago

    This is the best summary I could come up with:

    Following months of work to reopen communication with China, Ms. Yellen lodged a direct complaint: Cheap Chinese exports of green energy technology are threatening the electric vehicle and solar sectors that the United States has been trying to develop, and the Biden administration is prepared to protect them.

    During a separate meeting on Friday with the governor of Guangdong Province, Wang Weizhong, Ms. Yellen recalled that Guangzhou was historically a hub for Chinese trade and a place that was at the center of 1970s-era market-oriented reforms that opened China’s economy and supercharged its growth.

    “Building a healthy economic relationship requires a level playing field for American workers and firms, as well as open and direct communication on areas where we disagree,” Ms. Yellen said.

    They fear that these spillovers will hurt businesses that are planning investments in the United States with tax credits and subsidies that were created through the Inflation Reduction Act of 2022, a law that is pumping more than $2 trillion into clean energy infrastructure.

    A report last month published by the Rhodium Group, a research firm, recalled that a Chinese stimulus program initiated after the 2008 financial crisis focusing on infrastructure and property construction led to a global glut of steel and aluminum products after demand for real estate weakened.

    The heightened focus from the United States on Chinese exports coincides with the approaching U.S. presidential election in November and concerns that Beijing’s policies could threaten American jobs and union workers.

    The original article contains 1,425 words, the summary contains 245 words. Saved 83%. I’m a bot and I’m open source!