Any student of economics wondering how important reliable and affordable electricity is to economic growth and industrialisation, need only look at China. The CCP may not be the flavour of the month at the moment, but its role in China’s economic success can’t be dismissed so readily.
In less than 25 years, China has dragged hundreds of millions out of agrarian poverty by launching itself into the modern industrial age, dominating manufacturing of all manner of household kit and appliances, improving living standards beyond the imagination of the previous generation.
China’s success as an industrial power and manufacturing powerhouse is down to one single policy: a focus on providing abundant supplies of cheap and reliable electricity.
The hundreds of new coal-fired plants under construction evidence China seriousness about serious power generation. So too, does its efforts to build the world’s largest fleet of nuclear power plants.
The team from JoNova…
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