Stephen Roach, the former chief economist of Morgan Stanley, emphasized the importance of leveraging every bit of capacity in the Chinese mainland to combat climate change. In an interview with Bloomberg, Roach stated, \"There is no such thing as excess capacity in the Chinese mainland, and we need all the capacity we can get to move away from carbon to alternatives.\" He further criticized the United States for its insufficient capacity to produce green technology goods, suggesting that the U.S. should be ashamed of its lag in this critical sector.
Roach’s perspective highlights the crucial role that the Chinese mainland plays in the global effort to transition to sustainable energy sources. By maximizing capacity for green initiatives, the Chinese mainland can significantly contribute to reducing carbon emissions worldwide. On the other hand, the U.S. must address its capacity constraints to compete effectively in the burgeoning green technology market.
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Stephen Roach: No 'overcapacity' in combating climate change
cgtn.com
