There Can Be No Energy Transition Without China, Says Siemens Energy CEO
There Can Be No Energy Transition Without China, Says Siemens Energy CEO
The energy sector's supply chain dependency on China is so huge that it makes breaking away from Beijing next to impossible, according to Christian Bruch.
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They’re mad because they’re terrified that, in order to compete without paying slave wages for Chinese labor, they might have to gasp! get paid less to make up the difference! Not smaller profits! Oh, no!
How did you get that from the article?
[Christian Bruch's (CEO of Siemens Energy)] comments highlight the complexity for firms desperately needing supplies and parts manufactured in China, but not the competition from complete kits made there that undercut Western firms.
I understand this to mean: "there are no suppliers for some parts outside of China" rather than "my margins are affected, waaawaa"
Like try and buy clay that hasn't been processed at some point through China, or any piece of machinery that doesn't have a component inside which originates in China. Hell, even try go 24 hours without using a Chinese product.
This is why many countries are looking at re-implimenting protectionism, because we have reached a situation of non-control, regardless of domestic wants.
I don't think I agree with their (Siemens Energy's) stance, without a Long term solution to change the issue, but I understand it's place in the grand scheme.
I read it— but, more importantly, I also know the one thing that China has which constantly allows them to undercut Western manufacturing: cheap labor.