The High Cost of Excluding Chinese Technology
The advanced, low-cost products and technologies that are propelling the green transition in China could accelerate the green transition everywhere, including advanced economies. Although trade barriers are high and getting higher, inflows of Chinese foreign direct investment in countries that restrict trade is a viable alternative.
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MILAN – China is making sure it is ready for the transition to a sustainable economy. By investing heavily in green technologies and leveraging its massive domestic market, the country has been able to lower the costs and increase the supply of the products it needs, and to drive green innovation. But China’s progress might not benefit the rest of the world nearly as much as it could.