In Crackdown on Energy Use, China to Shut 2,000 Factories

Analysts predict that the countries that pursue energy efficiency and green technology – ending their dependence on fossil fuels – will emerge economic winners in the years ahead. Intent on not wasting energy, China applies strict targets on aging factories by ending bank loans, export credits, licenses, land acquisition, even shutting off electricity, reports Keith Bradsher for the New York Times. The closures are consistent with government goals to consolidate some sectors and produce more sophisticated products, Bradsher notes. The nation has also ordered provinces to end discount electricity prices for some high-use industries. Such changes won’t dislodge China from its rank as the world’s largest energy consumer, as the Chinese increase purchase of cars and household energy use. But efficiency will sharpen China’s competitive edge. – YaleGlobal