Western industrialism has achieved miracles, promoting unprecedented levels of prosperity and raising millions around the world out of poverty. Industrial capitalism is now diffusing throughout the East. Japan, the four Tigers (Korea, Taiwan, Singapore and Hong Kong) and China are all incorporating themselves into the global industrial world. India, Brazil and many others are expected to follow the same course. But as China, India and other industrializing giants grow, they confront an inconvenient truth: they cannot rely on the Western industrial development model of fossil-fueled energy systems (resource throughput rather than circularity and generic finance) because these methods cause extreme spoliation of the environment and raise energy security, resource security and global warming concerns.

By necessity, a new approach to environmentally conscious development is already emerging in the East, with China leading the way in building a green industry at scale. As opposed to Western zero-growth advocates and free-market environmentalists, it can be argued that a more sustainable capitalism is being developed in China - to counter black developmental model based on coal. This new 'green growth' model of development, being perfected in China and now being emulated in India, Brazil, South Africa (and eventually by industrializing countries elsewhere), as well as by advanced industrial countries such as Germany, looks to become the new norm in the twenty-first century. Its core advantages are the energy security and resource security that are generated.