China’s aggressive push to “green” its economy and become the world leader in renewable energy is admired by many commentators in the West. Those admirers need to look again. The country’s solar panel industry, which went from zero to become the world’s largest in five years, has crashed, with most producers now suffering from negative profit margins, soaring debt levels and idle factories. China’s experience with wind power is little different. China’s green crash is a textbook example of what happens when central planners substitute their economic decrees for the complex supply and demand decisions of a market. --Patricia Adams and Brady Yauch, Financial Post 9 December 2013
