In a recent discussion on sustainable development, renowned economist Jeffrey Sachs highlighted China's pivotal role in fostering global green initiatives. Sachs emphasized China's robust long-term planning mechanisms, particularly its five-year plans and the strategic operations of the National Development and Reform Commission (NDRC).
China's leadership in renewable energy technologies is undeniable. From low-cost electric vehicles and photovoltaics to advanced wind turbines and 5G digital technologies, China stands at the forefront of innovation. The China State Grid's engineering prowess and the vast renewable energy potential in western China and neighboring Mongolia further solidify China's position as a global leader in sustainability.
Central to China's strategy is the Belt and Road Initiative (BRI), which aims to provide long-term financing and support to developing nations. Through BRI, China offers affordable 5G technology, solar and hydro solutions, and comprehensive financing packages to regions in Africa, Southeast Asia, and Latin America. This initiative not only promotes sustainable growth in these regions but also fosters economic ties and technological advancements.
However, China's export of green technologies faces challenges in established markets like the EU and the United States, where protectionist policies and political pressures can hinder progress. Sachs suggests that China engage in open dialogues with these regions to address protectionism and advocate for the revitalization of the World Trade Organization (WTO) to ensure fair trade practices.
Looking ahead, Sachs envisions China expanding its market reach through regions with high growth potential. By providing affordable and sustainable technologies, China can help these countries achieve long-term economic growth and environmental sustainability, mirroring its own development trajectory from 1980 to 2020.
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China can help the world achieve green, long-term development
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