If you thought that the U.S. and Europe were the powerhouses of green technology, you should probably check out what Asia is proposing to do below. Just a hint: it involves a lot of money!

• In August, leaders from China, Japan, and South Korea will try to work out a plan that proposes sharing resources and technology to create a green-technology powerhouse.
• Japan and South Korea have highly advanced technology sectors while China is one of the strongest manufacturing powers in the world. By combining forces, they hope to easily dominate the green economy.
• The U.S. and Europe may respond to the Asian countries’ effort with renewed intensity and investment or could find themselves falling behind in a new low-carbon economy.

Facts & Figures

• In their economic stimulus programs, green investments account for 81% of South Korea’s and 38% of China’s spending – the U.S.’s is at 12%.
• Estimates put Europe’s investment in clean energy at $50 billion for 2008, while North America’s is only at $30 billion.
• In June 2009, the U.S. started a $25 billion program to help car makers retool their assembly lines for more fuel-efficient car production.

Best Quote

“[South Korea hopes to create] a new paradigm of qualitative growth which uses less energy and is more compatible with environmental sustainability.” – Han Seung-Soo, Prime Minister of South Korea

Tags: asia, Environment, green