Slashdot Mirror
China To Close 2,000 Factories In Energy Crackdown
Hugh Pickens writes "The NY Times reports that China's Ministry of Industry and Information Technology has published a list of 2,087 steel mills, cement works and other energy-intensive factories required to close by September 30 after discussions with provincial and municipal officials to identify industrial operations with outdated, inefficient technology. The goal of the factory closings is 'to enhance the structure of production, heighten the standard of technical capability and international competitiveness and realize a transformation of industry from being big to being strong,' the ministry says. The current Chinese five-year plan calls for using 20 percent less energy this year for each unit of economic output than in 2005 but surging production by heavy industry since last winter has put in question China's ability to meet this target. In addition to the energy-efficiency objective in the current five-year plan, a plan announced by President Hu Jintao late last year called for China to reduce its carbon emissions per unit of economic output by 40 to 45 percent by 2020, compared with 2005 levels."
They are (mostly) bonds, not loans. They mature when they mature, you can't call them in whenever you like. There is a real risk that china will become more reluctant to lend in the future though.
Its very shortsighted of us in the west to give this whole area of development to the Chinese. As they get more efficient and starts getting good at using alternative energy we in the west will still fight about oil, coal and other forms of non renewable energy.
The future lies at the feet of whom have energy in wast amounts. If China wins this race, they win in the long run. I wouldnt be surprised if we end up paying royalties to China for their technology instead. Some politicians cling to the idea that the west will supply the brains and the rest of the world will pay.
Our greed comes back to bite us over and over.
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In the West, the $€£ is king; in China, to a large extent the Party is king. Many of these factories will be extremely inefficient and would have bell closed or replaces long long ago in the West, but have been kept going in China because of the effect on local jobs - especially local party jobs. The power that says that 2000 factories must close because of central policy is the same power that kept them open regardless of whether it was in most people's best interest to do so. Central control works both ways: when the centre is right, it can get things done very fast. But when it is wrong it can get things don, or not done, with equal efficicency. For all its defects, when the market is working properly it is remarkably efficient.
Consciousness is an illusion caused by an excess of self consciousness.