13 Jul 2011
TAX WILL NOT HURT "King coal" Australia's complicated commodity
China's emphasis on developing clean energy sources has rattled some of its economic competitors and could transform the global energy marketplace.
In 2009, according to the Pew Charitable Trusts, China surpassed the United States and other members of the G-20 for the first time as the leader in clean energy investment.
Last year clean energy investment in China totaled $34.6 billion, compared with $18.6 billion in the United States. Last month, Chinese officials announced they will spend $75 billion a year on clean energy.
"In China, the policy has gotten very aggressive," said Peggy Liu, chairperson of the Shanghai-based Joint U.S.-China Collaboration on Clean Energy. She said Chinese officials are trying out a range of new technologies.
"It's like throwing spaghetti on the wall. They're very open to experimenting."
Zhou Dadi, vice chairman of the State Expert Advisory Committee to the National Energy Leading Group of China, said his nation is trying "to change the system" of how it uses and produces energy.
AUSTRALIA MUST CATCH UP, OR ELSE!
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