China boasts leadership in the global push toward clean energy—and rightly so. Its electric vehicle sales are surging and already outselling conventional cars, while no country is close to the massive Chinese investment in renewable energy and storage, and the record-setting additions of solar and wind power capacity. Renewables, EVs, and related supply-chain industries have been contributing a record share of China’s economic growth in recent years. But the green energy boom has led to such overcapacity, fierce price wars, and a race…