October 27, 2021

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China’s Economic Might

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China socialist market economy is considered to be the world’s second largest when measured in the scale of growth domestic product (GDP) after the United States of America, and it is the world largest economy by purchasing power parity (PPP) according to the data recorded by the International Monetary Fund. After the abolishment of socio-economic non-interference into global activities by the early Chinese government in the 1980s, China has emerged to be a new global power within the international system.

China has emerged to become a global hub for manufacturing, establishing itself as the global largest exporter of goods and services with the largest consumer market and largest importer of goods and services in the world. In order to avoid on the long-term socioeconomic effects the country poses to the environment through its technological and industrial pollution, China has shifted its economy towards more advanced high-tech industrial technology which has lower carbon emission with allocation of national revenue to innovative aspects aimed enhancing sustainability and reduction impacts of pollution.

China investment in renewable energies have surpasses Europe and United States of America combined. China as the world’s largest energy consumer sees the challenge which is presented by climatic changes. Over the last five years, it is estimated that over 40% of all newly added renewable energy power was generated by China. The country has launched major initiatives aimed at controlling carbon emissions which is brought about by the industrial smog of major industries within the country.

Industries within the China region have been allocated allotments where they are not to exceed emission so as to regulate on the carbon emission in the country. China has invested heavily in the development of renewable energies, with last year alone an estimated $90 billion which is more than any other country was used to finance this process. China has managed to develop its solar power industry at a faster rate and the country is considered to be the world’s largest wind power producer with thousands of turbines in western China and plans are under way to increase by 100 percent in the next five years. China is also considered to be the world’s largest hydropower producer with its hydropower dams accounting for half of the world’s total, with a more possibility of increment’s.

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China bid to upgrade the auto industry to compete favorably in the international auto-mobile industry has seen the country advance its interest in manufacturing electric cars. The government has been in full force to finance this initiative aimed at reducing environmental emission as well as enhancing innovation and scaling the height of technology to come up with environmental friendly electric machines.

The China government is considered to have invested to a tune of 37 billion Yuan into the new- energy vehicle over the last five years, and it is estimated to devote another 63 billion Yuan by 2020 in establishing more electric cars to aide in reducing carbon emission into the atmospheres. Due to these progressive ideologies which major auto-mobile firms in China have embraced, it has seen other global competitors such as Volkswagen AG which is the largest foreign carmaker by sale and Ford Motor Co entering into this quest of manufacturing electric cars so as to remain relevant in the auto-mobile industry .

More so, Chinese government is in high anticipation of electric cars, which are majorly aimed at reducing China’s dependence on imported oil and also to establish profitable low emissions vehicle industries which are considered to reducing the pollution problems witnessed in most Chinese urban areas.

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In accordance with China’s economic dominance, the investing in these renewable sources of energy is considered to China sole aim in dominating world markets by becoming the world leader in exporting renewable energy across the globe. More so, with the government interest in developing electric cars, they are working on a way to cut their budget on importing oil from other countries, as local sources are not sufficient enough to meet the high demands from the locals.

Therefore the country is working its way out from this oil politics in a bid to alleviate themselves from depending on oil as the only source of fuel. A case witnessed in 1950s when China fell victim to Sino-Soviet split oil dry up which left China without an energy source. Thus, China is in a way trying to minimize on their carbon pollution, but developing themselves as a global economic power in another aspect.

The call for energy analysts and economists for the United States of America to launch a massive research and development program to join China in becoming a technological and economic leader in the area of clean energy is important, as this will enhance reduction of carbon emission from the two largest carbon emitters in the world. With China at an advanced stage of renewable energy production, United Stated of America joining them will enhance a balance of power between the two world powers which will be instrumental in shaping the trends across the world.

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The idea of using renewable energies which are environmental friendly is important as it will protect the environment from continuous pollution as this new technologies will reduce on carbon emissions. More so, industries which are considered to emit more carbon into the air will be subjected to regulatory threshold, whereby they will be limited on the amount of gas they will be releasing into the air, and this will facilitate a reduction in emission bringing forth a new dawn in industrial emissions.

China and United States of America are considered to be huge emitters of carbon into the air, therefore a collective effort to enhance the two countries to work together is crucial from the protection of not only the ozone layer, but also the fauna and flora found on the earth’s surface. Therefore countries embracing renewable sources of energy are considered to be a new way of coping up with environmental pollution, thus posing a positive sustainability towards environmental protection.

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