US and China to Unveil Joint Plan to ‘Take Over’ Cleantech Market

China and the US have finalized a plan to dominate the world market in low carbon technology. While the details will be revealed later, the plan includes investment in wind, solar and carbon capture technology and infrastructure mainly in China. But with any comprehensive plan, the devil is in the details. Patent rights remain an open issue especially as many believe that China simply uses Western intellectual property; though this may have changed with China’s recent development of a highly efficient carbon capture facility. The threat of protectionism also looms – China’s recent fiscal stimulus has focused on clean energy, while foreign firms complain of fettered access to the Chinese market. Yet China has fired back that proposed US legislation to exact tariffs on goods from countries without carbon reduction targets is unfair. In the end, while China and the US are the largest polluters, and thus should invest the most in clean technology, one wonders whether these two countries dominating technologies that affect the globe will lead to the best result for the environment. – YaleGlobal