Most proposed solutions in the Global Green New Deal literature involve finance and technology transfers to address the imbalance between the Global North and Global South, while providing little discussion of the internal socioeconomic structures within countries in the Global South. This article uses China as a case study to show that without addressing the issue of domestic informality, the potential benefits of a Global Green New Deal are less likely to be fully realised in the Global South. We use the Input-Output method and our originally constructed data on formal and informal employment to calculate the informal employment share in two exemplary renewable energy sectors: solar and wind. We find that more than half of the jobs created in the solar and wind energy sectors, with a given level of spending, will be in the informal economy, and hence are associated with low wages and little social welfare protection. The results imply that, without addressing informality, both renewable energy sectors perpetuate the informal structure in the broader economy. We also question the capitalist nature of ‘green jobs’ created by the Green New Deal. Based on the results, we call for a more organic integration of a Global South perspective in the studies of a Global Green New Deal.

This paper is divided into three parts. In the first one we identify the project that led the Spaniards to settle in the Far East in the last third of the sixteenth century. In the second, we analyse the resources that the Spanish Crown counted on in order to support the project. And, finally, the incentives that the latter generated to stimulate the installation in the islands of settlers that assured their continuity, at least until the last third of the eighteenth century, are also studied. The sources used are basically the accounts of the Philippine Treasury of the late sixteenth century and first half of the seventeenth century, the primitive ‘relaciones’ of the conquest (1575–1590) and the ‘crónicas’ of the early sixteenth century.