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The only bright spot for the environment is the rapid expansion of state-of-the-art nuclear power.
Many in the West gaze in awe at China’s apparent dominance in green energy—churning out enough solar panels, wind turbines, electric vehicles and batteries to flood global markets. It’s true that Beijing has pulled off a tremendous feat that should have the West scrambling to alter its energy policy, but the image of China as a renewable superpower is mostly propaganda. In reality, the country has dramatically scaled up energy use across the board—buoying “green” manufacturing with coal expansion—and grown rich in the process.
The eco side of Chinese industry resembles the next iteration of its recent property boom and bust, in which Beijing funneled too much capital into construction until the current crisis began around 2021. Since then, Chinese money has been flowing into solar panels, creating overproduction and overcapacity. Chinese annual solar production capacity is now more than twice the actual global solar-panel sales in 2024. Of the firms the International Energy Agency studied, every segment of the Chinese solar supply chain suffered profit losses in every quarter last year, with margins reaching almost as low as minus 60%. Between the start of 2024 and July 2025, more than 40 companies delisted, went bankrupt or were sold. The industry cut a third of its workforce in 2024.