China has built substantial production capacity in green-tech sectors like electric vehicles and solar panels, but has faced rising trade barriers in developed markets whose governments worry about anti-competitive "overcapacity." Fortunately, one hears no such complaints from the Global South.
BEIJING – At an international symposium on “80 Years after Bretton Woods” in Hangzhou this past May, I proposed a “Global South Green Development Plan,” which some media later dubbed the Chinese Green Marshall Plan. The proposal includes three goals: assisting developing countries’ green development, expanding China’s aggregate demand, and enhancing China’s global leadership. Like the original Marshall Plan, the plan would provide large volumes of commercial credit and investment, policy loans, and government aid.
BEIJING – At an international symposium on “80 Years after Bretton Woods” in Hangzhou this past May, I proposed a “Global South Green Development Plan,” which some media later dubbed the Chinese Green Marshall Plan. The proposal includes three goals: assisting developing countries’ green development, expanding China’s aggregate demand, and enhancing China’s global leadership. Like the original Marshall Plan, the plan would provide large volumes of commercial credit and investment, policy loans, and government aid.