The United States and Europe are trying to catch up to a rival skilled in using all the levers of government and banking to dominate global manufacturing.

But no country has come close to matching the scale and tenacity of China’s support. The proof is in the production: In 2022, Beijing accounted for 85 percent of all clean-energy manufacturing investment in the world, according to the International Energy Agency.

Now the United States, Europe and other wealthy nations are trying frantically to catch up.

  • silence7OP
    10·
    21 days ago

    There are a lot of other things China does, including:

    • Free/cheap land for factories
    • Assurances that a market will be available for the resulting product
    • Low-interest loans to businesses in favored industries
    • Grants to businesses in favored industries
    • Assurances that a market for the product will exist
    • Barriers to purchasing from abroad

    Some of these can be replicated in the west without impinging on freedom in any kind of meaningful way