Asian countries, backed by giant economic stimulus packages, are leading the world in investments in "green" technologies, the chief executive of Siemens AG said in Singapore on Thursday.
Asian countries, backed by giant economic stimulus packages, are leading the world in investments in "green" technologies, the chief executive of Siemens AG said in Singapore on Thursday.
That, according to the Wall Street Journal yesterday (subscription req'd).
These large, targeted investments in clean energy technology will help Asian nations like China develop thriving clean energy markets.
The Journal continues:
Siemens CEO Peter Loescher said in an interview on the sidelines of the Asia-Pacific Economic Cooperation summit that countries such as China have moved more quickly than the U.S. to spend their stimulus packages and are increasingly doing so on high-tech, low-pollution technologies such as high-speed trains.
"If you ask us where we sell the most advanced technologies" now, he said, "it's Asia and China." China's economic rebound and spending programs are turning out to be "stronger than one would have anticipated," he said.
On Wednesday, November 18th, Breakthrough and the Information Technology and Innovation Foundation will be releasing a special report that benchmarks clean energy competitiveness in four nations: China, South Korea, Japan and the United States.
This report is clearly timely, as the WSJ article continues:
Some analysts have questioned whether spending from stimulus packages will generate as much long-term demand as expected for energy-saving and other green technologies. Some countries, including the U.S. but also some Asian nations such as Thailand, have run into bureaucratic and other delays in implementing their spending plans.
With billions of dollars of money unused and signs of asset bubbles emerging in some parts of the world, some economists have suggested governments should begin reining in stimulus and perhaps leave some expenditures unfinished, or risk crowding out private sector investment and whipping up inflation.
But Loescher said that Siemens, whose high-tech motors, power systems and other products make it a beneficiary of many stimulus packages, is sticking to earlier estimates of the windfall it could receive from government spending. He said the company is expecting about EUR15 billion in orders for Siemens equipment from stimulus packages by 2012.
"I'm still very encouraged by how they're being rolled out globally," he said, though he added, "I've not heard anyone talking about additional programs" of stimulus spending.
Siemens announced earlier this week that the company generated EUR23 billion in revenue from products in its so-called "environmental portfolio" in fiscal 2009, an increase of 11% from the year before, despite the global recession. The portfolio of products includes wind power systems, gas turbines, energy-efficient lighting and other products.
Siemens has highlighted a number of energy-efficient projects it is collaborating with Chinese officials on, including a 1,400-kilometer power distribution "superhighway" that will transport 5,000 megawatts of power from the country's interior to its coastal cities, and building automation systems in Shanghai that Siemens said will cut energy costs and reduce annual carbon dioxide emissions.
The outlook for some of the company's other businesses remains uncertain, and it has said it may still cut headcount in some divisions as the global economy works its way out of its latest crisis, Reuters reported earlier this month.
Loescher said he continues to believe the global economy will achieve a sustainable recovery, though. The global economy "will definitely come back," he said. "The question is how fast it will get back to levels of 2007 and 2008."
Last age is of an europium country and coming age is i must say that it's of asian two big countries that is china and India.There economical position is now growing and there is huge young youth.
Posted by: r4 dsi at November 14, 2009 1:11 AM