Caveats:
- There are a bunch of different ways to slice subsidy numbers.
- The scale of what China did and is doing is not very reproducible
- Especially if you start further up the value chain (or with mittelstand path dependency on the combustion engine, for example)
But, all in all: Yeppppp.
'The real surprise from the OECD’s subsidy numbers is that it cost China less than $18bn in sectoral support over 15 years to build an industry that can now provide more clean power than the world can readily absorb.'
@adamtooze.bsky.social @financialtimes.com
www.ft.com/content/b6ca...
Chris Hopkins
Clean power is within our reach — yet factories sit idle
