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Can Obama Turn China Green? February 3, 2009

Posted by tkcollier in Economy & Business, Enviroment.
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There are good reasons for cooperation, however. On the Chinese side, the Communist Party’s legitimacy lies largely in its ability to deliver economic growth and higher living standards to its people. Yet the World Bank estimates that the total cost of air and water pollution is already 5.8% of GDP, and unbreathable air certainly does not constitute a higher standard of living—as China’s population is fast realising. In 2005 alone, there were 51,000 pollution-related protests, roughly 140 each day.

And the U.S. needs a boost to its own international legitimacy. Co-operating with China on one of the most pressing issues of our time is an excellent opportunity to do so. If that’s not reason enough, a U.S.-China partnership on energy productivity is good business. Global demand for low-carbon energy could create a $500 billion annual market by 2050. Instituting policies that will encourage innovation now can ensure future competitiveness in an important industry

via Far Eastern Economic Review | Turning the East Green.

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