The Chinese Dream

Is China out of money? Don't be silly. The answer is no. But what makes me ask that question? The fact that the European Investment Bank issued part of a loan, that will eventually be worth 1 billion euros, to China. Wait...for what? The purpose is to help China use more renewable sources and increase its energy efficiency. 

The president of the European Investment Bank, Philippe Maystadt, made a great point here in order to defend their decision. "The reduction of greenhouse gases should be considered globally, as greenhouses gases do not stop at the border of China." Maystadt also mentioned cutting emissions in China "benefits all." I find this beautiful and important. 

China is a specific worry because it has finally passed the United States as the biggest emitter of greenhouse gases. Yay! We (the U.S.) don't need to feel bad any longer! We are the good guys now and they're the bad guys! Not so fast.

I say not so fast because of a point Thomas Friedman, a NYT foreign affairs columnist, makes often. These countries are just trying to achieve "their own versions of the American dream — a house, a car, a toaster, a microwave and a refrigerator." We've built the lifestyle built upon dirty, cheap energy. So how can we blame others for wanting to do the same thing? We can't.

Friedman makes a good point in a video interview: 

“One of the most important things to understand about the developing world right now, we’re talking about China, India, and Brazil, is they’re not going to buy into any restrictions on their growth based on limiting their CO2 emissions.  They’re not going to do that.  We can argue about global warming with them until we’re blue in the face. Their comeback to us is very understandably, ‘I get it. You guys got to grow dirty and now you’re telling us we get to grow clean. Sorry, that’s just not on.’ So as a practical matter, it’s just not on.”

We need to create a new American Dream, Friedman will say after making this point. This is because we are still a big player in the polluter-game and countries around the world still look up to us. We need to give them something new to look up to.

Bottom line: With the event that China is borrowing money to invest in green ideals and technology, are we going to be striving for the Chinese Dream now? Or will we remake the American Dream?