Is Climate Finance the Next Bubble?

When China needed more work for its over-bloated industries, they invented the Belt and Road Initiative. What was touted to be a gift of China to the world quickly turned out to be a horrible debt treat that China had built up to bring new work to its domestic industries? The deal was “we give you cash to build projects which we will also build for you and you give us something strategic in return”. I was sure it would falter and it did. Green finance is a similar deal – “we will print a ton of money which we will throw at useless pixie dust projects and leave the debt burden to the next generations”.

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