China is embarking on a new, parallel path of clean power deployment and innovation. It is the Sputnik of our day. Unfortunately, we’re still not racing.
Most people would assume that 20 years from now when historians look back at 2008-09, they will conclude that the most important thing to happen in this period was the Great Recession. I’d hold off on that. If we can continue stumbling out of this economic crisis, I believe future historians may well conclude that the most important thing to happen in the last 18 months was that Red China decided to become Green China.
Yes, China’s leaders have decided to go green — out of necessity because too many of their people can’t breathe, can’t swim, can’t fish, can’t farm and can’t drink thanks to pollution from its coal- and oil-based manufacturing growth engine. And, therefore, unless China powers its development with cleaner energy systems, and more knowledge-intensive businesses without smokestacks, China will die of its own development.