Wednesday, May 27, 2009

Can China Catch a Cool Breeze?

Can China Catch a Cool Breeze?: "This small wind farm represents an alternate future: that of China as a green technology giant.

The People's Republic of China faces two problems that could be addressed with one solution.

The global economic crisis has hit China hard. The country's exports and Gross Domestic Product growth have dropped dramatically; over the past year tens of thousands of factories have closed, and an estimated 20 million workers have lost their jobs. Social unrest is growing, and many fear it could spin out of control. In the face of that, China must boost its internal investment and consumption. In other words, China, which exports much of its savings, must absorb more of the surplus it generates--it must stimulate its own economy. The Chinese government's $585 billion stimulus package, announced in November and dedicated mostly to infrastructure, is an attempt to do just that. A second, equally massive intervention may be on the way soon."

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