-Sounds like a...debt trap.G-7 to help emerging economies move up supply chains for EVs, solar panels
Partnership with World Bank intended to develop manufacturing, cutting reliance on China
TOKYO -- The Group of Seven rich nations is considering a partnership with the World Bank to build more resilient supply chains for clean-energy technology by providing funding and other support to emerging markets, Nikkei has learned. The G-7 aims to lift these countries beyond resource extraction into the more profitable business of manufacturing products like electric vehicles and solar panels, by helping them secure the needed technology and infrastructure funding.
The G-7 is considering contributing capital to the World Bank for the effort. The hope is to spur more diversified supply chains, reducing the need to rely on China for strategically important products as the global decarbonization push accelerates. The proposal will be made at a meeting of G-7 finance ministers and central bankers in Japan starting Thursday, with the goal of reaching an agreement at next week's leaders summit in Hiroshima. The specifics would be hammered out within the year.
G-7 host Japan has invited outside countries including India and Indonesia to both meetings, where the proposal will be presented as a new avenue to support developing countries, such as resource-rich African nations. Rich nations will provide technical support and training. G-7 finance ministers and central bankers affirmed their intent to "support low- and middle-income countries to play bigger roles in supply chains" at their previous meeting last month in Washington.
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-That probably won't work that easy, the reason because China developed so vast clean energy industry is because is also the biggest consumer of clean energy technology so there is an incentive for China to invest in this technologies. Also China already made huge investment modernizing their infrastructure, roads, healthcare and so on, now with less investment needed in that area they are investing now in this new technologies in which by the way as I said they are the biggest consumer in the world. I don't see this huge consumption of clean energy products in most of the world, especially in poorer countries, maybe because, you see, clean energy is not a necessity in our world, energy is, "clean energy" is not, for now most countries are perfectly fine with their old oil-gas powered infrastructure and vehicles, most poorer countries have to deal with more critical infrastructure like roads, education and healthcare. So they will probably want the investment going to areas that are more critical, rather to a technology that many would consider good to have but not a most have. For example if China infrastructure lacked I don't think they would have invested so much in clean energy they would have put more money in civil projects.
-Hear me now quote me later, the biggest pusher of "clean energy" in low-middle income countries will be probably when Chinese companies go there with their tools, with their money, their supply chain and expand their manufacturing-supply chain facilities to make EVs, batteries, electricity production devices and so on in those countries. For example CETC already cover the entire production of solar energy products from Ingot to the Solar panel itself probably at a way cheaper price.
-Hear me now quote me later, the biggest pusher of "clean energy" in low-middle income countries will be probably when Chinese companies go there with their tools, with their money, their supply chain and expand their manufacturing-supply chain facilities to make EVs, batteries, electricity production devices and so on in those countries. For example CETC already cover the entire production of solar energy products from Ingot to the Solar panel itself probably at a way cheaper price.