China's demand for powerand the infrastructure as well as trade wars, etc are causing it to reduce its renewables agenda.. However, one or two countries doing something does not mean it is the right thing to do. Especially China, which manipulates and has an authoritarian system of government.
In the UK and Europe, the picture is vastly different... The move to renewables is real and after the investment in infrastructure, the price of generating renewable electricity is reducing. There are RECs (Retail Electricity Companies, I think) that are sprining up that provide renewable energy. Obviously, they can't guarantee every unit of electricity that comes down the wire is generated from renewables. but for every unit we consume, they buy futures from renewable energy is I think how it works. The main producers are coming on stream as well. These are growing rapidly, so the consumer is voting.
Yes, renewable energy isn't cheap at the moment.. Economies of scale are a big thing here.. But, using the argument that it aint cheap, then little technolgical progress would be made at all.. We could still get around with a horse and cart... not too many around now. Electric cars are expensive at the minute compared to their ICE counterparts, but I am betting in 20 years or so, ICE based cars will be relics and out great grandkids will be asking why it took so long to make the change on a mass scale.
Also, of you are going to claim world comparison - compare the world - not just China and India. Even the US are shying away from coal. China has or is funding the vast majority of new coal power - it is not new power from all sources of which the rest of the world are moving to.
Also, the IMF and world bank are forecasting Aussie coal prices to decline or hold steady in to the future.. Coal Prices Forecast: Long Term, 2018 to 2030 | Data and Charts - knoema.com. The underlying price (smoothed for short term volatility) seems to have remained much the same since about 2005.. There has been a drop recenlty, but this is attributeed to COVIT-19. The point is, like oil, there will always be a need, but people are moving away from it for better alternatives.