Did China shrewdly delay America's entry into the biggest opportunity of the 21st Century?
As developed nations fail to put an adequate price on carbon, and thus to stimulate clean-technology development themselves, they risk handing market supremacy to the rival they most fear. Indeed, it could even be hypothesized that China’s blocking of agreement on rich-country emission targets in Copenhagen was intended to hold back the development of cleantech by its Western rivals.While Asian companies corner the clean energy market.
David Sandalow, the U.S. assistant secretary of energy for policy and international affairs—a longtime expert in the field, both in and out of government, who has trekked across the Pacific five times since last summer—says, “China’s investment in clean energy is extraordinary. Unless the U.S. makes investments, we are not competitive in the cleantech sector in the years and decades to come.” Did China block Copenhagen progress to pave way for its own dominance in cleantech?