Christoph Wang, director of the Griffith Asia Institute in Brisbane, highlights that economic opportunities are a significant driver in China's green transition.

In Europe, we partly missed a lot of economic opportunities because we underestimated China, particularly around the green energy transition.

I've been working with the Europeans for the Europeans in China, trying to convince the Chinese that there's a huge economic opportunity for greening its economy, um, because it's gonna unleash in the transport sector and the energy sector, it's gonna unleash all these opportunities, and we've been preaching all about this, but then failed to innovate at scale.

And now kind of we are all surprised in Europe and in other countries that we lost a lot of our industry capacity and now kind of paddling back.

So we're not benefiting enough from this green transition as we were hoping because in some ways we tried to convince the Chinese that they need to lead the way, and now they're doing it, and now we're, um, a little bit frustrated.

Now the-- what's interesting is that particularly in the energy transition, we're actually saving cost.

So it is much more, um, expensive to produce energy, particularly if you build new energy plants through fossil fuel than through renewable energy.

This presents another opportunity for China to step up on the world stage as Wang and Nag explain.