Westly Group Targets Investments In Chinese Clean Tech
Steve Westly -- the former California gubernatorial candidate turned Silicon Valley venture capitalist -- issued a wake-up call today to U.S.entrepreneurs and venture capitalists who have hesitated to invest in clean tech -- especially in China. "No VC firm should be without a China strategy," he told an audience of several hundred people at a clean tech conference sponsored by Cooley Godward, a Silicon Valley law firm. "China will pass the U.S. in 20 years as the largest economy in the world. There are only two countries that matter -- the U.S. and China. They create 40% of the world's pollution, and the other 191 countries divvy up the rest....I go to China every 90 days -- China knows the big health issues they're facing." Despite the massive investments the U.S. has been making in alternative energy, smart grids and other clean technologies, the Chinese government is moving faster and is pushing the U.S. hard,
