Here’s a stat that snuck up on me.
“For the first quarter of the year, 2.7 million cars were sold in China – besting U.S. sales of 2.2 million for the first time to become the world’s largest car market.”
There are many ways to look at this, two of which are: a) good God, there goes our efforts on climate change; b) maybe China can pull us out of the recession.
The CNN article tells us there are 100 Chinese automakers hoping to take advantage of the growing market, not to mention the multinational companies and government-owned entities like GM and Chrysler. A growing Chinese market would help with over capacity of cars out in the world. But, it would be even better if those cars were environmentally friendly. The Chinese are pushing for electric cars and Warren Buffet’s favorite car company is going electric.
But, most of the electricity in China is generated by coal. In other words, it’s a mixed up, muddled up, crazy world we live in. On the other hand, our region’s clean tech sector may stand to benefit. Like I say, there’s a lot of ways to look at this.