Shocking transition developments in Asia

Vietnam is threatening over $13 billion in wind and solar investments by correcting its subsidy regime for these industries, a horrified Reuters reported this week. The reason is shocking: the government of the country has discovered it cannot subsidise wind and solar forever. Which makes the Vietnamese government a lot quicker on the uptake than some other governments we know and love.

In other news, transition IPOs in India have slowed from a flood to a trickle and valuations have plummeted. The reason, per Bloomberg, is “delays striking power supply deals.” Vietnam and India are giving the world an object lesson in market economy. Not that those who need to learn will learn, but it’s good to see that someone is starting to pay attention.