An article in the Financial Post in Canada looks at China's much-vaunted renewables industry and shows that it is nearing collapse:
Sinovel – one of the world’s largest wind turbine manufacturers – went from earning hundreds of millions of dollars in profits in 2010 when the renewable energy industry was booming to millions in losses that grow by the day. Revenues are now just a fifth of what they were in 2010. The company has closed its overseas offices and recently laid off thousands of employees.
And it seems that the solar industry is doing just as badly. In China, just as in Europe, renewable energy was only able to survive if it was regularly hosed down with public funds. As soon as the taps were switched off, the industry was in trouble.