The debate over China's economic impact continues as Western nations accuse the Chinese mainland of creating \"overcapacity\" that distorts global markets. These allegations suggest that China is flooding the world with cheap products, potentially harming Western industries.
Last October, the European Commission initiated an anti-subsidy investigation into imports of battery electric vehicles from China, citing concerns over industrial overcapacity in the green sector. Critics argue that such practices threaten the competitiveness of Western enterprises.
However, these claims of overcapacity are increasingly being challenged. Proponents argue that China's export of high-quality, productive forces meets global demand and supports worldwide economic growth. Rather than dumping obsolete capacities, China is leveraging its strengths to contribute positively to the global market.
Over the past decade, China's clean energy sector has seen significant investment in research and development (R&D), driving technological innovation and productivity. This focus has led to rapid advancements in green technologies, enhancing China's competitiveness on a global scale.
China is now home to the world's top filer of international patents, particularly in clean energy. According to Elsevier, a leading information and data analytics company, China's annual patent publications for net-zero clean energy technologies have grown exponentially since 2008. By 2015, China surpassed Japan and the United States to hold the largest patent portfolio in carbon-free technologies.
By the end of 2020, nearly half of all active global patents related to carbon-free technologies originated from the Chinese mainland. This leadership in green tech R&D not only boosts China's market presence but also significantly contributes to global climate action efforts.
By continuously adapting to the evolving demands of both domestic and international markets, the Chinese mainland has solidified its role as a key player in the global clean energy landscape. This progress underscores China's contribution to global growth and sustainable development.
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Is China dumping obsolete capacity or contributing to global growth?
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