00:00This current crisis, a high price of oil, will reconvene some of the countries to change the mind.
00:11Definitely for the world, we're all expecting that the U.S. will be back to the Paris Agreement.
00:17Definitely. I hope that, yeah, not Trump administration, but the next administration.
00:22It should be how the American people are going to reevaluate the position of the U.S. government, depending on
00:32how U.S. government.
00:33That's why I think, no, there's no hope for the current administration, but we're hopeful for the next administration.
00:39Have you made overtures to the Trump administration in the last year since you and I last talked?
00:44No, I think...
00:45Have they answered your calls?
00:46They're all absent. I think, unfortunately, for President Trump, he returned to the White House.
00:56He abolished all the posts for addressing climate change in all departments. That's unfortunate.
01:03So no dialogue at all?
01:04No dialogue at all.
01:05But we are trying to maintain a dialogue with the U.S. colleagues through Check 2, Check 1, Check 1,
01:13Check 1 plus 1,
01:14to all academic business sectors, academic sectors, I think, to ensure that the U.S. will not be forgotten.
01:23What does China still need to do?
01:25Zhou Xiaochuan, the former Central Bank governor, talked about he still rely quite heavily on coal-fired power.
01:31I think, gradually, we're going to substitute. With a rapid deployment of renewable energy, we are going to substitute those
01:39coal-powered plants.
01:42It takes time. But we are in a process for substituting these coal-powered plants with other sources.
01:49That's why I mentioned it. In the next five years, all this new increase of demand, electricity demand, will be
02:01achieved by new energy.
02:05Well, China has built a lot of resiliency on its energy mix.
02:09But do you think this shock in the Middle East will force China to even double down and invest more
02:14in things like we saw the high-altitude helium balloon, wind turbines, and other areas?
02:20I think, as I mentioned, China has more capacity to address this issue, current crisis, and more resilient.
02:30That's why I think we agree. This will also convince the government at all levels to speed up our transition.
02:39So there will be no oil crisis, no gas crisis in China, definitely.
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