Time: More Chinese Communism can Save Us from Climate Change

by Eric Worrall at wattsupwiththat.com

China is apparently doing such a good job at transitioning to renewables, we should all ditch democracy and copy their example.

Capitalism Can’t Solve Climate Change

MARCH 20, 2024 9:00 AM EDT

Christophers is professor at Uppsala University in Sweden, and author The Price Is Wrong: Why Capitalism Won’t Save the Planet and Our Lives in Their Portfolios: Why Asset Managers Own the World

Veiled by discussion of headline global trends in new renewables capacity investment is the fact that almost all the incremental progress is currently being made in one country: China.

While China surges ahead, the rest of the world remains stuck.

This raises a crucial question. What is different about the development of solar and wind resources in China from the rest of the world?

The main answer is that in China, such development is capitalist in only a very limited sense. Certainly, the entities centrally involved in building out new solar and wind farms in China are companies. But almost all are state-owned. Take wind. Nine of the country’s top 10 wind developers are owned by the government, and such state-owned players control in excess of 95 percent of the market.