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U.S. and China’s next economic battle will be over climate change, experts say

2021-04-02 08:54:03       source:CNBC

April 1, 2021

Having long been at loggerheads over trade, technology and capital markets, the world's foremost economic superpowers are turning their attention to climate change as the next path to commercial supremacy. 

China outspent the U.S. by nearly 2-to-1 on energy transition-related investment between 2010 and 2020, according to BNEF data cited by Bank of America's ESG Research team in a report last month.

Pressure points including "supply chain dominance, domestic-focused manufacturing policies, human rights-related laws and carbon-related trade tariffs," BofA analysts said.

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