No Climate Agreement Between US And China

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US efforts to reduce carbon emissions will have a negligible impact on the environment. It’s only if China (not to mention a host of other emerging economies) cut emissions as well, could we expect to see a meaningful change.

But so far, the Chinese aren’t willing to concede to any potentially growth-stunting burbs — at least not yet.

At least they agreed to keep talking

FT: The two sides also signed a memorandum of understanding on climate change that committed them to intensified bilateral discussions of the issue and highlighted the importance of success in international negotiations in a United Nations meeting in Copenhagen later this year.

But Xie Zhenhua, vice-minister of China’s national development and reform commission, said developed countries had to take the lead in substantially reducing emissions and in committing to technology transfer and financing for industrialising countries to control their own carbon emissions.

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