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Powering the Growing Dragon: An Analysis of China'
Source: Asia Economic Institute | Date: 12/31/69
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Abstract: Abstract:
China's economy is growing at a furious rate and shows very few signs of slowing down. In order to power its surging economy in the past two decades, China has relied mostly on massive amounts of fossil fuel. This has created a very serious air pollution problem that presents health concerns for Chinese citizens. To meet the surging demand for fossil fuels, China has been forced to rely on imports from other countries. Although China is the world's leading producer of coal, it is still a net importer due mainly to demands made by high energy-consuming industry. The expansion of industry has also caused China's appetite for petroleum to increase every year. The last common fossil fuel, natural gas, plays a relatively insignificant part in meeting China's energy needs.
The Chinese government has adopted aggressive policy to combat air pollution and decrease reliance on other nations for energy imports. China's 11th Five Year Program and the 2006 renewable energy law focus on more efficient use of energy, energy conservation, and investment in renewable energy sources. Because renewable energy does not contribute to air pollution and is naturally replenished, the Chinese government has invested heavily in it in the past decade. Technology in China allows biodiesel manufacturers to capitalize on energy sources that would be otherwise wasted. Wind energy has increased its capacity faster than expected. China's hydroelectric power resources are already highly developed and should be able to meet a significant portion of China's electricity needs in the next few years. The country's dams generate more power than those of any other nation. Solar energy technology continues to improve rapidly. A combination of all these renewable sources should improve air quality in China and put a significant dent in China's demand for fossil fuels within the next 15 years. |
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