China leads the United States and Europe!, This competition
According to the website of the Spanish newspaper Pioneer on September 10th, if the economic powers of the United States and the Soviet Union launched a space race during the Cold War in the 1960s, today's race is different: a race around zero emission industries. In this competition, major powers from a multipolar world are participating - in addition to the United States and Europe, there are also China, India, and Japan.
Wind power generation facilities filmed on August 31st in Changrong Town, Xinghua City, Jiangsu Province
The report states that all parties have proposed ambitious plans to strive to play a leading role in energy transformation. We only need to think about the US Inflation Reduction Act, the EU's European Green Agreement, China's 14th Five Year Plan, Japan's Green Growth Strategy, and India's Energy Conservation Act to understand.
Thanks to renewable energy and electric vehicles, investment in the zero emission economy sector will exceed investment in the fossil fuel sector this year. So, which of these announced plans has achieved the greatest results?
According to the report, Dave Jones, Chief Analyst of the "Unburned Coal" research organization that studies climate and energy issues, commented, "The future energy system will be supported by solar and wind energy, and rebuilt on the basis of clean energy. These five major economies account for two-thirds of global electricity demand, and they will drive the global energy transition towards success."
"The EU has an advantage that its transformation began earlier and accelerated as it attempted to gain energy independence from Russia. However, China's renewable energy construction speed is faster," Jones added.
The report states that this is indeed the case, and there is currently a clear winner in this great economic competition of the 21st century: China.
For many years, the Chinese government has made it clear that decarbonization must be a priority. At international car shows such as the Munich Auto Show, the presence of Chinese electric vehicles is increasing. This is not an interesting story, but a symbol of China's strategy.
According to reports, the Brussels think tank Strategic Outlook Institute has recently released its latest research report titled "Competition in the New Era of Zero Carbon Industry" based on data provided by research organizations such as "Unburned Coal". The report indicates that China has taken a step ahead. In 2023, 55% of the world's installed renewable energy capacity will come from this country. About half of the world's electric vehicles operate on roads in China. In addition, China controls 60% of manufacturing technology in the field of zero emissions, creates millions of jobs, and controls almost the entire battery supply chain, contributing 74% of the total production of lithium batteries.
The report points out that in this long competition, Japan and India are far behind, while the United States has also invested a lot of resources in research and development, committed to competing with China. One thing is certain: whoever achieves the goal first will lead the global economy. (