China’s been big-dogging it today, embracing a rarely seen degree of diplomacy and collaboration.
The Financial Times ran a story about the success of Tim Geithner’s visit to China and a likely strengthening of the Yuan. The good news was qualified as being not good enough – the fiscal breakthrough won’t bolster the global economy, but China won’t be able to maintain its absurd domination of exports. Maybe. But it means Obama’s diplomacy and decision against implementing tariffs may have created a better playing field.
And the Washington Post threw down on word that China may actually back further sanctions against Iran. Finally. Once Russia hopped on board and China was left as the great power favoring trade over nuclear security, maybe they got lonely.
And! Insult to injury: Business Green, as covered by The Guardian, reported that by year’s end China will receive more than 25% of its electricity from low-carbon sources. The coal monstrosity will get something like 250 gigawatts of power from hydro, wind, and nuclear plants – as compared to 700 from its coal-friendly sources. And its greener energy sources are growing more rapidly than their traditional, planet-stabbing competition. The full breakdown is worth checking:
But consider that the study was first reported by a government-backed news source: Xinhua is more biased than Fox News, and features a name evocative of both a Korean pop group and the evil coroporation from Final Fantasy VII.
You know, it serves me right for setting out to paint a portrait of China as an exploding disaster. Day 2 of this blog and they slap me down. Well played.