Stephen Roach, former chief economist at Morgan Stanley, has emphasized the vital role of China’s capacity in the global fight against climate change. In a recent interview with Bloomberg, Roach stated, “There is no such thing as excess capacity in China, and we need all the capacity we can get to move away from carbon to alternatives.”
Roach’s remarks underscore the significance of China’s manufacturing capabilities in producing green technology goods essential for transitioning to renewable energy sources. He pointed out that maximizing capacity is crucial for accelerating the shift from fossil fuels to sustainable alternatives worldwide.
Furthermore, Roach expressed concern over the United States’ lack of capacity in producing green technology, stating that the U.S. should be “ashamed” of falling behind in this critical sector. His comments highlight the pressing need for nations to invest in and expand their green technology industries to meet global climate goals.
As the world grapples with the challenges of climate change, Roach’s insights shed light on the importance of leveraging industrial capacity to foster a sustainable future. China’s extensive capabilities could play a pivotal role in supplying the necessary technologies to reduce carbon emissions on a global scale.
Reference(s):
Stephen Roach: No 'overcapacity' in combating climate change
cgtn.com
