Industries of 21st century won't go to China, India: Obama

July 17, 2012 10:33

US President Barack Obama will not concede industries of the 21st century to China, India or Europe, a top presidential aide has said as he defended the administration's loan guarantee programme.

"This President will not concede the industries of the 21st century to China, India, Europe and elsewhere," the White House Press Secretary, Jay Carney, told media persons travelling with Obama to Ohio.

Opponents had been attacking Obama, highlighting reports of top donors landing plum administration posts and securing government aid. They cite at the top of that list the Department of Energy loan guarantees that went to alternative energy companies.

Carney said the investments made in the Recovery Act have already helped renewable energy production double in the United States.

"They have helped created tens of thousands of jobs in the United States. They have helped build a foundation for competition in vital industries in the 21st century, for competition that will allow for the creation of American jobs in the United States," he said.

"The alternative is to cede those industries to other countries, because the 21st century will be very much focused on the development of clean energy technologies and the utilization of the clean energy technologies," he argued.

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