As Trump turns his back on renewables, China is building the future
2 days ago
- #Renewable Energy
- #Global Economy
- #US-China Relations
- Donald Trump signed a bill ending most subsidies for renewable energy in the US.
- Nvidia Corporation surpassed $4 trillion in value, and Bitcoin hit a record high above $117,000.
- Data centers for AI and cryptocurrency are increasing electricity demand significantly.
- BRICS nations committed to intensifying efforts against global warming, contrasting with US policies.
- China is addressing overcapacity in solar power and leading in renewable energy and EV manufacturing.
- Trump imposed a 50% tariff on copper imports, affecting US high-tech manufacturing competitiveness.
- Trump's rhetoric promotes coal as 'clean and beautiful,' despite its environmental impact.
- Tariffs are misleadingly framed as paid by foreign countries, but actually burden American consumers.
- China is gaining global leadership in trade, energy production, and possibly soft power.
- The US dollar's dominance as the reserve currency may face challenges from the Euro and Chinese yuan.
- American tech giants lead in AI, but China is rapidly catching up in high-tech industries.
- Anthony Albanese prioritized meeting Xi Jinping over Donald Trump, signaling Xi's growing importance.