China has also leapfrogged the West in the last two years to emerge as the world’s largest manufacturer of solar panels. And the country is pushing equally hard to build nuclear reactors and the most efficient types of coal power plants.
These efforts to dominate the global manufacture of renewable energy technologies raise the prospect that the West may someday trade its dependence on oil from the Mideast for a reliance on solar panels, wind turbines and other gear manufactured in China.
Isn't that a nice howdy-doo. I weep for this country. We've got bigger problems than the current depression. When what used to be the largest penal colony on earth kicks our butt up one street and down the other, something is really wrong. I could list half a dozen things wrong here in the U.S., but China has them all, and more. I'm perplexed. One possibility is the savings rate per person. In China it's 40%. Here it's almost zero. When you have serious savings you can go out on a limb and try something new. It seems like Americans need to borrow money for their next meal. Sad.