Beijing Is Failing to Solve Its Involution Problem
The Chinese government should do more to build demand for renewable energy at home rather than encourage oligopolies.
Workers install solar panels at a photovoltaic power station in Eqiao Town, Wuhu, Anhui. Credit: Depositphotos
When Chinese investors began pouring into renewable energy in the early 2020s, it seemed like a perfect alignment of national ambition and global demand. Beijing’s push for carbon neutrality by 2060 coincided with Europe’s scramble to wean itself off Russian gas and the world’s broader embrace of clean energy. Factories expanded at breakneck speed, producing solar panels, wind turbines, and batteries for a market that seemed limitless. For a time, renewable energy was not just a growth sto
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