Last week in Wuxi, I noticed a newspaper headline about the bankruptcy of Suntech, one of China’s largest solar panel manufacturers. Below the fold was a story about the success of several local car companies and the dramatic rise in their stock values. Was there something that these stories had in common - - and something from them that could help the U.S. economic recovery? Suntech defaulted on over half a billion dollars in government loans, a figure similar to the Solyndra losses for American taxpayers. There are numerous reasons for both of these failures, but chief among them was …
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Terry Tamminen is the former secretary of the California Environmental Protection Agency and is now a policy adviser and author. His latest book is Watercolors: How JJ the Whale Saved Us.
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