Comment by pornel
2 days ago
Of all the places I think China has the least sentiment for protecting business of industries it doesn't want, to keep a line going up on paper.
Their push for renewables and energy independence is very deliberate. When they reach the goal, it's not "oh noes, our precious coal jobs, how are we going to placate rural voters and coal lobbyists", it's cheaper energy, and workers freed to be moved to more productive things.
It's funny that our hope for the future now seems to stand upon the Chinese Communist Party being the paragons of enlightened, unsentimental capitalism that we never were.
Oh I know I am just saying China currently needs to stimulate it internal consumption to maintain its economic growth targets. But cheaper energy that keeps getting cheaper each year is a wierd problem to have and it will be interesting to see how it plays out in the next 5-10 year.