Al Gore, the chairman of Generation Investment Management and former US vice president, says China’s supremacy in the energy transition is now leading “many nations” to consider closer ties with the country. He describes America’s retreat from transition technologies as a “tragedy.” China manufactures about 80% of the world’s solar panels, supplies some 60% of the planet’s wind turbines, 70% of its EVs and 75% of batteries, all at a lower financial cost than the West.

I think Biden recognized this, albeit a bit late and hoped to play catch up, but that wouldn’t have been profitable for the right people, so we have whatever this shoot-ourselves-in-both-feet strategy, now.