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Policy frameworks built around gradual transitions and bridge fuels may find themselves misaligned with market realities. It is important to stress that this transition was not driven by environmental virtue, although that played a policy role. Chinese manufacturers built electric trucks from clean sheet designs rather than retrofitting diesel platforms.
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- If we look at income levels across countries in South and Southeast Asia, Malaysia is far richer than many of its neighbors.
- Crude death rates, shown in yellow, adjust for population size; the increase shrinks from more than 100% to around 20%.
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Modi said in his June 17 address that India’s “sovereignty is supreme,” indicating that accepting a territorial shift in China’s favor likely will not be his next step. But looking for conflict at a time of economic downturn and still-rising coronavirus cases is not a good option, either. India recently announced review procedures for foreign investment from “neighboring” countries, and this net could expand further.
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India’s transition differs from China’s in pace and scale, but not in direction. Solar and wind prices in India are among the lowest in the world. Electrification of transport is advancing fastest in two and three wheelers, but buses and trucks are following as battery costs fall. India is a hair under 100% heavy freight rail electrification, the only country higher than China.
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