U.S. vs. China on Clean Energy (Letter to the Editor)

The story says "China overtook the United States for the first time last year in the race to invest" in clean energy — as if Americans should be alarmed. They shouldn't. The prize for this "race" is wasted money, which means that the winner is actually a loser.

That's because the Chinese clean-energy industry, like the U.S. clean-energy industry, is wholly a creation of government, and government-created industries are doomed to failure.