When Paul Krugman writes there are “hints” China realises its emissions need to be reduced, it’s a massive understatement.
The country knows it can’t continue dumping emissions into the atmosphere at the current level and is already aggressively working on developing a cleaner energy infrastructure. Solar, wind, nuclear installations are set to take off. Will it still rely on coal? Sure, but China’s push into the alternative energy world is just as pronounced as anywhere else.
As a matter of fact, the Telegraph says, China’s green investments are provoking “soul-searching” in the U.S. In the next two years. “China will spend more than six times America’s green stimulus spending as a percentage of their respective economies – or $13 million an hour,” Telegraph reports.
And, yes, the country is even looking at carbon taxes. When the the rest of the world is regulating carbon, it’s foolish to think that just one country would be allowed a massive competitive advantage. Especially when the rest of the world has decided that carbon dioxide is causing irreparable damage to the planet.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.