Top officials & business executivesm, at World Economic Forum, have confirmed that there is going to be a race this year for countries to develop cleaner, greener technology that is emerging as a very important factor when considering refiguring the world economy as the emerging coutnries are hot on the heels of the battered Western economies according to Katrin Benhold of the New Your Times.

With U.S. and China competing with each other regularly and Europe wanting to maintain it’s high economic stature there is basically a battle going on for the milion jobs which are being wasted and is also a chance to bring in rillions worth of dollars all in the form of export revenues. This pits venture capitalists driven markets against the govrenment subsidies which are a way of protesting against the up down system like there ones of state capitalism and this has the ability to influence how an economic & political system evolves.There is a concern that China is getting ahead in the lucrative potential growth sector in production of various renewable energy resources and the senior officials in the U.S. and in Europe have warned them that they should not be complacent or else face the consequences.

China has made up it’s mind on a long term plan and are working towards it regulary now. Global turndown in economies has influenced the ageing developed world a lot more than it has influenced the fast growing markets and focuses on the potential for creating jobs while using green energy which many seem to think is the next industrial revolution. The energy sector alone has taken advantage of various new technologies such as solar and wind power and will be easily able to support close to 20 million jobs latest by 2030 & there are trillions of dollars worth of revenue estimated by analysts.

Even though there are fresh energy sources that are supposed to be more expensive in the beginning than fossil fuels, politicians from the West are wondering whether manufaturing bases which have stagnated or shrunk will be able to be rebuit with the help of these green supply chains.

While this is going on, Barack Obama, the President of U.S. is facing an uphill task at Congress because he wants to pas a legislation that is politically sensitive and is aimed at curbing carbon emission.

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