cross-posted from: https://slrpnk.net/post/8375539
Yellen Faces Diplomatic Test in Urging China to Curb Green Energy Exports
Why would we want China to curb their green energy exports? Isn't that literally the whole point of trying to fight climate change, finding ways to use more green energy?
Because the government objective isn't fight against climate change but to protect the American capitalist class.
So basically she's accusing China of having "industrial overcapacity", that is to say their production is supposedly higher than the demand.
Arnaud Bertrand wrote a great article on this.
TL;DR: The 3 main signs of overcapacity (capacity utilization rates, inventory levels, and profit margins) for China are all at similar rates as the US, indicating they are not in overcapacity. And they aren't even selling them at a lower price abroad than at home to beat competition; it's the opposite. He concludes that China is simply getting too efficient at manufacturing these days and the US is starting to struggle to compete with that, and this is just them trying to convince China to slow down.
Even if there was overcapacity, if you're trying to tackle climate change you should be throwing all your resources at creating and installing solar cells and batteries everywhere until there's no fossil power generation left.
If the US is worried about domestic industry, they can shift some of the subsidies they give to oil companies to domestic green industry.
I wonder what Yellen has to offer this time, because last July she showed up with nothing and went home with only a tall tale about her “magic mushroom” experience.
