US Solar Probe: Get Ready for China Bashing 美国太阳能调查：炮轰中国大潮的前奏

By newsdoug on September 15, 2011

The Republican-controlled House of Representatives has seized on a scandal surrounding a bankrupt US solar panel maker for some new political theater, which means we can probably expect to see a new round of China bashing in the run-up to next year’s presidential election. So what’s happening here? China solar sector set for lashing in US political theater According to media reports, US solar panel maker Solyndra could default on a $528 million loan guaranteed by the US government following its recent bankruptcy filing, forcing the government to repay the loan. (English article) While this appears to be a purely US matter, since both the company and loan are US-based, an investigation in the House of Representatives is likely to explore WHY the US firm went bankrupt as part of a Republican-led show designed to embarrass the Democrats. When that happens, executives from Solyndra and other struggling US solar panel makers, many of which have also gone bankrupt in recent months, will undoubtedly tell Congress about the unfair competition they face from big Chinese names like Suntech (NYSE: STP), Trina (NYSE: TSL) and Yingli (NYSE: YGE), which receive huge support from the Chinese government in the form of subsidies and preferential loans, in addition to their natural advantage of low labor costs. When that happens, look for House Republicans to take at least some symbolic action, such as proposing punitive tariffs for Chinese-made solar cells, to show they are being tough on China in the run-up to next year’s elections. Of course, none of their plans will ever succeed since the Democrats still control the Senate and the presidency. But that kind of reality hasn’t stopped the Republicans since they gained control of the House last year, and all the talk and negative publicity could cause an already battered field of US-listed Chinese solar firms to see their shares sink even lower.

Bottom line: Chinese solar panel makers are likely to become targets in an upcoming round of political theater in Washington, further pressuring their already-battered shares.

美国太阳能面板生产商Solyndra破产，众议院借题发挥，也就是说走向明年总统大选前，我们可能又要看到一轮炮轰中国的热潮。到底是什麽情况？据媒体报导，Solyndra近日申请破产後，公司的5.28亿美元政府担保贷款可能发生违约，迫使政府出面还款。虽然此事看似美国内务，因无论当事企业还是贷款都是发生在美国境内，但众议院调查可能会清查Solyndra为何破产。众议院由共和党控制，调查旨在让民主党难堪。一旦调查展开，Solindra与美国其他苦苦挣扎的太阳能企业必定向国会大倒苦水，抱怨面临尚德(STP.N)、天合光能(TSL.N)与英利(YGE.N)等中国太阳能大企如何进行不公平竞争。中国政府通过补贴与优惠贷款等形式向这些企业提供巨大支持，而且公司本身还有劳动力成本低的天然优势。如果出现这种情况，预计众议院内的共和党人至少会采取象征性行动，诸如提议对中国制造的太阳能电池板徵收惩罚性关税，以在大选日益临近之际彰显他们对中国的强硬态度。当然，他们的提案根本行不会获得通过，因为民主党仍控制参议院与白宫。但这并不妨碍共和党去采取行动力，一切的争论与负面宣传可能导致在美上市的中国太阳能题材股进一步下跌。

一句话：华盛顿新一轮政治博弈越来越近，中国太阳能面板制造商可能不幸沦为博弈目标，进一步压低相关企业的股价。