Get the latest tech news
How innovative is China in nuclear power?
Though China built upon a foreign base of technology, it has become the world’s leading proponent of nuclear energy. Chinese firms are well ahead of their Western peers, supported by a whole-of-government strategy that provides extensive financing and systemic coordination.
For its part, the slowing pace of nuclear power plant approvals over the past-quarter century (and notably, the inability to find a robust domestic market for the AP1000) led to Westinghouse declaring bankruptcy in 2017, with its assets now possessed by Brookfield Renewable Partners and Cameco. [99] Notably, China (like Russia) is not bound by Organization for Economic Cooperation and Development (OECD) guidelines on minimum interest rates and loan repayment terms, which is already enabling it to offer more attractive export financing packages (affording it a distinct advantage) in competing for overseas business in nuclear markets. ITIF wishes to thank the Smith Richardson Foundation for supporting research on the question, “Can China Innovate?” Other reports in this series will cover artificial intelligence, autos/electric vehicles, biopharmaceuticals, chemicals, commercial space, consumer electronics, and quantum computing.
Or read this on Hacker News
