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TAKEAWAY: Leading the green transition
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China Economic Review
This comes as the US-Iran war continues to disrupt fossil fuel supply chains around the world starting with the blockade of the Strait of Hormuz.
Accessing crude oil and natural gas reliably is arguably one of the biggest concerns for most countries around the world right now—over 20% of the world’s supply passes through the Strait.
Many countries are moving in the same direction at different speeds, and some smaller countries are already ahead of China, but none match China’s scale.
As the world’s biggest energy consumer, and also the world’s biggest polluter, the stakes could not be higher.
For Beijing though, this shift towards green energy is arguably more about reducing reliance on these fragile supply chain than any sense of taking the moral high-ground.