The proposal includes three goals: assisting developing countries’ green development, expanding China’s aggregate demand, and enhancing China’s global leadership. I was inspired by recent discussions about China’s overcapacity in key green industries: electric vehicles (EVs), lithium batteries, and solar panels. Another issue is that the perceived impact of Chinese overcapacity is exaggerated by the sheer size of the Chinese economy. It can drive global green development, boost its own economy, and strengthen its international leadership all at the same time. But even if they each pursued separate green Marshall Plans, they would accelerate the global green transition dramatically.

Source: Stuff October 18, 2024 09:26 UTC