Public and private spending on the energy transition in China last year totaled $266 billion, compared with $114 billion in the U.S, according to Bloomberg.
Source: Making Electric Vehicle Parts in America Could Take Time | The New Republic
…The bill represents a sea change in how D.C. policy circles tend to think about climate policy, discarding narrow talk of carbon pricing and “market-fixing” in favor of viewing emissions reductions as an investment challenge in which the state can play a big role shaping markets. “Shifting from this idea of taxing something so we cut to building and investing is a really big shift,” said Jonas Nahm, a political scientist at Johns Hopkins School of Advanced International Studies whose research focuses on green industrial policy. “The U.S. isn’t the first country to realize that’s important, and it’s important for the U.S. to catch up to other places that have been doing that for a long time,” he added, noting he was enthused to see the bill become law.
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