Semafor Signals: Global insights on today’s biggest stories.
Local Chinese governments struggle to help
A price war on solar panels in China has meant that big firms have rapidly lost profit while small firms risk bankruptcy. Historically, the industry has been propped up by city governments, which build solar panel factories to lease or sell to private firms. But while some local authorities have expressed willingness to continue to keep solar firms afloat, “that support may dry up,” The Economist reported. The provinces are themselves swimming in debt, largely stemming from the…
