Professor of Economics from the University of Southern California, who also holds a degree in Letters, Arts and Sciences from Dornsife College, says that for China, climate change is no hoax, but a business and political opportunity.
In mid-November, while Americans were preoccupied with election returns, China sent some of its clearest signals yet that it will continue to pursue an international leadership role on issues including climate. At an international climate change summit in Marrakech, the Chinese government reasserted its commitment to reduce its greenhouse gas emissions.
The government announced that its aggregate emissions will peak by 2030 or earlier, and that its emissions per dollar of economic output will decline sharply.
For 25 years I have taught my economics students that climate change represents the ultimate “free rider problem.” To slow global climate change, we need to reduce aggregate global emissions. Yet each individual nation’s efforts are too small to “solve” the problem, so it has only weak incentives to take costly mitigation actions, and strong incentives to “free ride” on the benefits of emission reductions by other countries.
From this perspective, President-elect Trump’s pledges to “cancel” the Paris Agreement and dismantle President Obama’s carbon mitigation initiatives follow standard economic logic. If the United States backs out of commitments to reduce national emissions, it still benefits from other countries’ efforts.
Why, then, is China pressing ahead with low-carbon initiatives? My research suggests several motives. Chinese leaders want to improve the quality of life in their nation’s cities by reducing air pollution; win large shares of promising export markets for green technologies; and increase China’s “soft power” in international relations. Taking aggressive action to cut carbon emissions helps China in all three areas.
Disclaimer: Matthew Kahn does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond the academic appointment above.
more recommended stories
New barricades at US-Mexico border to “welcome” Caravan
TIJUANA, Mexico: Huge metal or concrete.
Mérida’s “Facade Rescue Program” receives 30 new applications every month
To give greater coverage to the.
Live a Culinary Experience at Hacienda Petac
Yucatan Today says that “Edible Destinations.
Taxation in Mexico (all you need to know but were afraid to ask)
The most significant taxes in Mexico.
Personal Development tips that you Should Apply Today
Oftentimes, we will meet people with.
What Are Medigap Plans?
If you are above the age.
Chicxulub Crater Museum, another incomplete project left by the previous state administration
According to Yucatan Expat Life, the Chicxulub.
Mérida offers the best quality of life in all of Mexico
According to Mexico News Daily, Mérida,.
Will the next “Caravans” depart out of Southamerican countries?
Tapachula, Chiapas.- Central American governments issued an.
There will be no “Smoke on the Water” over the “White City”
The British music group Deep Purple,.