America - China and Green Technology

America Green Technology faces Chinese competition

01/19/2011 - America is currently bent on promoting its green industry. But the firms of this industry are finding it difficult to compete against their Chinese counterparts even with the support of the government. The United States currently accounts for a mere 1.6 billion dollar of the 29 billion dollar market of solar panel and their main competitors the Chinese firms are applying aggressive policies to keep their dominance intact. The congress was so concerned regarding this that it recently implemented a regulation binding the Pentagon to buy only U. S. made solar products.

The Chinese company named the Wanxiang International who produces auto parts are the biggest in the U. S. and they have an 8 billion revenue worldwide, providing employment to over 5000 people in the states along with investment in more than twenty American companies. This was a point that was mentioned by Hu Jintao the Chinese president who indicated that China provides both cheap goods and jobs to American people. {continued}