Amidst diplomatic concerns raised by the U.S., the Global South views China's surplus in clean energy as a beacon of opportunity rather than a threat. U.S. Treasury Secretary Janet Yellen recently highlighted China's \"overcapacity\" in the clean energy sector, fearing potential repercussions for the United States and its allies. However, nations in the Global South, including Brazil, see China's advancements as a pathway to affordable and accessible clean energy solutions.
Marco Fernandes, a research fellow at the Tricontinental Institute for Social Research in Brazil, discussed these dynamics during an event at Renmin University of China in Beijing. He emphasized that while Western powers perceive China as a challenger to their dominance, countries like Brazil view China's robust presence as strategically beneficial.
Fernandes pointed out that China's innovation in electric vehicles, solar panels, and renewable energies has not only driven down costs but also made green technology more accessible globally. This has accelerated the adoption of clean energy solutions in developing countries, fostering sustainable growth.
He also highlighted the importance of balanced partnerships, suggesting that collaborations between Brazilian and Chinese companies could further enhance the production and distribution of clean energy technologies. With Brazil’s strong trade surplus with China, such partnerships promise mutual benefits and reinforce the economic ties that underpin sustainable development in the Global South.
As China continues to invest in renewable energy, the Global South remains focused on leveraging these advancements to bolster their own development, maintaining sovereignty, and making decisions that best serve their national interests.
Reference(s):
China's clean energy surplus: Global South shrugs off U.S. alarm bells
cgtn.com
