PwC: The US-China cleantech connection: shaping a new commercial diplomacy
China's investments in its cleantech sector are outstripping those of the United States, PricewaterhouseCoopers reports.
In the United States, the American Recovery and Reinvestment Act earmarked $83 billion for cleantech development and implementation. But China has taken the lead in the cleantech sector. In 2009, the year the Recovery Act was passed, China invested $34.5 billion in clean technologies, compared to $18.6 billion invested in the United States. And while American government policy makers deliberate a carbon trading system, China is already prepared to launch a market-based carbon trading plan during its next "Five-Year Plan," which spans 2011 to 2015.
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