China: The New OPEC

China produces more renewable energy technology and equipment than any country in the world despite the West’s redoubled efforts. “China vaulted past competitors in Denmark, Germany, Spain, and the United States last year to become the world’s largest maker of wind turbines, and is poised to expand even further this year. China has also leapfrogged the West in the last two years to emerge as the world’s largest manufacturer of solar panels. And the country is pushing equally hard to build nuclear reactors and the most efficient types of coal power plants. These efforts to dominate the global manufacture of renewable energy technologies raise the prospect that the West may someday trade its dependence on oil from the Mideast for a reliance on solar panels, wind turbines, and other gear manufactured in China. ‘Most of the energy equipment will carry a brass plate, ‘Made in China,’’ said K.K. Chan, the chief executive of Nature Elements Capital, a private equity fund in Beijing that focuses on renewable energy.”