China plans to build 30 new nuclear power plants to supply its insatiable need for electricity in the next 12 years.
Just like everything it does, the country of a billion workers is moving into nuclear power in a big way. That means China will have to outlay 450 billion yuan. Based on the assumption that it will continue its adherence to the dollar in the next decade, that’s about $61 billion to make China one of the leading nuclear energy countries in the world.
And unlike Western countries, China’s ambitious plans have a pretty good chance of being met (ah, the efficiency of a totalitarian regime). It’s amazing what you can get done when opposition is punishable by death and banks can be ordered to lend you money.
China is using its old beg-and-steal strategy for the nuclear power market, too. The country is buying the technology to develop those power plants from two Western companies: France’s Areva (CEI: Paris) and Pennsylvania-based Westinghouse Electric Corporation.
Just like everything it does, the country of a billion workers is moving into nuclear power in a big way. That means China will have to outlay 450 billion yuan. Based on the assumption that it will continue its adherence to the dollar in the next decade, that’s about $61 billion to make China one of the leading nuclear energy countries in the world.
And unlike Western countries, China’s ambitious plans have a pretty good chance of being met (ah, the efficiency of a totalitarian regime). It’s amazing what you can get done when opposition is punishable by death and banks can be ordered to lend you money.
China is using its old beg-and-steal strategy for the nuclear power market, too. The country is buying the technology to develop those power plants from two Western companies: France’s Areva (CEI: Paris) and Pennsylvania-based Westinghouse Electric Corporation.
