America’s failed government-subsidized ventures into solar panel manufacturing have been blamed on that massive Chinese industrial juggernaut, flooding the market with cheaper goods and making it impossible for us to compete. (And not because of poor public investment decisions and lack of accountability due to crony capitalism, no sir!)
So let’s turn to Caijing Magazine, reporting directly from China on all matters business, to tell us how well the nation is curbstomping our struggling green energy capitalists here in the free world:
China’s top ten photovoltaic makers have accumulated a combined debt of 17.5 billion U.S. dollars so far, leading the whole industry to the brink of bankruptcy, data from U.S. investment agency Maxim Group showed.
Goodness. That’s 35 Solyndras!