China may be facing export growth issues from lacklustre global growth picture but domestically they may not be anywhere close to a slowdown.
At the recent Star Trek convention in Beijing, China signed a pledge with the US on tackling climate change which is expected to run to over $2tn.
To meet the agreement they will need to build either 1000 nuclear reactors, 50,000 solar farms or 500,000 wind turbines.
To put that into perspective, the US has just 100 reactors in 62 plants and just over 45,000 (end of 2012) wind turbines.
Now we know with these kinds of pledges that they are often long drawn out affairs and they change like the weather, but that’s still a hell of a lot of investment and work to be done, and it comes in the midst of mounting anger from the population to tackle pollution, so it may happen fairly quickly.
If there’s one thing the Chinese are good at it’s chucking people at a problem, so they’ve certainly got the manpower to get it done. It also means greater investment into China by foreign firms in these fields.
A lot is made over China and whether they are at the end of their growth boom but there is still a long way to go and a lot of the country still lagging behind in the process.
China needs something to blow the pollution away
It’s also an apt reminder about the Chinese manufacturing PMI’s due out early Monday morning.
We have the CFLP PMI at 01.00 gmt and then the Markit PMI at 01.45 gmt
