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Why Has China not Embraced a Global Cap-and-Trade Regime?

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  • Zhang, ZhongXiang

Abstract

Many economic studies suggest that China would reap significant benefits from participating in a global cap-and-trade regime. The question then is that even if such a regime is so beneficial to China, why China has consistently refused in international negotiations even to discuss its participation in it. In this paper, we look at this issue from the following perspectives: a) from the point of view of fairness, how do developing countries including China and India perceive emissions caps in the first place?; b) why have China and India been sceptical to international emissions trading?; c) how is an inflow of CDM investment in China perceived politically in comparison with the exports of emissions permits to the U.S.?; d) what are the implications of “lock in” to emissions cap, in particular no rules and principles for setting emissions targets for the commitment periods subsequent to Kyoto?; e) how to address the complex undertaking of setting emissions caps for developing countries, which must be linked to future, unobserved levels in comparison with the historically observed levels for industrialized countries?. To our knowledge, this is the first paper to analyse why China has not embraced an international greenhouse gas emissions trading scheme, thus pointing out efforts/directions towards getting the country into such a scheme. Thus, the paper is of significant policy relevance.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 12783.

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Date of creation: Sep 2003
Date of revision: Jul 2007
Handle: RePEc:pra:mprapa:12783

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Keywords: Cap-and-trade regime; Clean development mechanism; International climate negotiations; Kyoto Protocol; China; India;

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References

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  1. Zhang, Zhong Xiang, 1999. "Estimating the size of the potential market for the Kyoto flexibility mechanisms," CCSO Working Papers, University of Groningen, CCSO Centre for Economic Research 199920, University of Groningen, CCSO Centre for Economic Research.
  2. Warwick J. McKibbin, 2004. "Climate Change Policy for India," ASARC Working Papers, The Australian National University, Australia South Asia Research Centre 2004-03, The Australian National University, Australia South Asia Research Centre.
  3. Zhang, ZhongXiang & Löschel, Andreas, 2002. "The Economic and Environmental Implications of the US Repudiation of the Kyoto Protocol and the Subsequent Deals in Bonn and Marrakech," ZEW Discussion Papers, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research 02-28, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  4. Zhang, ZhongXiang, 2004. "Meeting the Kyoto targets: the importance of developing country participation," Journal of Policy Modeling, Elsevier, Elsevier, vol. 26(1), pages 3-19, January.
  5. Zhang, ZhongXiang, 1998. "Greenhouse gas emissions trading and the world trading system," MPRA Paper 12971, University Library of Munich, Germany.
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Citations

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Cited by:
  1. ZhongXiang Zhang, 2010. "The U.S. Proposed Carbon Tariffs, WTO Scrutiny and China’s Responses," Working Papers, Fondazione Eni Enrico Mattei 2010.34, Fondazione Eni Enrico Mattei.
  2. ZhongXiang Zhang, 2010. "In What Format and under What Timeframe Would China Take on Climate Commitments? A Roadmap to 2050," Working Papers, Fondazione Eni Enrico Mattei 2010.112, Fondazione Eni Enrico Mattei.
  3. Zhang, Zhong Xiang, 2012. "Competitiveness and Leakage Concerns and Border Carbon Adjustments," International Review of Environmental and Resource Economics, now publishers, now publishers, vol. 6(3), pages 225-287, December.
  4. Zhang, ZhongXiang, 2009. "Encouraging developing country involvement in a post-2012 climate change regime: carrots, sticks or both?," MPRA Paper 13174, University Library of Munich, Germany.
  5. ZhongXiang Zhang, 2009. "Is It Fair to Treat China as a Christmas Tree to Hang Everybody’s Complaints? Putting its Own Energy Saving into Perspective," Working Papers, Fondazione Eni Enrico Mattei 2009.45, Fondazione Eni Enrico Mattei.
  6. ZhongXiang Zhang, 2009. "Climate Change Meets Trade in Promoting Green Growth: Potential Conflicts and Synergies," Economics Study Area Working Papers, East-West Center, Economics Study Area 105, East-West Center, Economics Study Area.
  7. Rose, Adam & Wei, Dan, 2008. "Greenhouse gas emissions trading among Pacific Rim countries: An analysis of policies to bring developing countries to the bargaining table," Energy Policy, Elsevier, Elsevier, vol. 36(4), pages 1420-1429, April.
  8. Zhang, ZhongXiang, 2008. "Multilateral Trade Measures in a Post-2012 Climate Change Regime?: What Can Be Taken from the Montreal Protocol and the WTO?," MPRA Paper 12782, University Library of Munich, Germany, revised 29 Dec 2008.
  9. Wei Jin & ZhongXiang Zhang, 2014. "Quo Vadis? Energy Consumption and Technological Innovation in China's Economic Growth," CCEP Working Papers, Centre for Climate Economics & Policy, Crawford School of Public Policy, The Australian National University 1412, Centre for Climate Economics & Policy, Crawford School of Public Policy, The Australian National University.

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