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Why has China not embraced a global cap-and-trade regime?

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  • ZHONGXIANG ZHANG

Abstract

Although many economic studies suggest that China would reap significant benefits from participating in a global cap-and-trade regime, China has consistently refused to participate in international negotiations on this issue. Understanding China's underlying concerns is a key to explaining why China has not embraced an international greenhouse gas emissions trading scheme. This is explored as a potential basis for including China in future negotiations and schemes. This issue is considered from the following perspectives that impact upon China: (a) fairness: how do developing countries perceive emissions caps? (b) why have China and India been sceptical about international emissions trading? (c) what would China's political perceptions be of an inflow of CDM investment in comparison with the exports of emissions permits to the USA? (d) what are the implications of 'lock in' to an emissions cap, particularly when no rules and principles exist for setting emissions targets for post-2012? (e) the complex question of establishing future emissions caps for developing countries.

Suggested Citation

  • Zhongxiang Zhang, 2007. "Why has China not embraced a global cap-and-trade regime?," Climate Policy, Taylor & Francis Journals, vol. 7(2), pages 166-170, March.
  • Handle: RePEc:taf:tcpoxx:v:7:y:2007:i:2:p:166-170
    DOI: 10.1080/14693062.2007.9685646
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    1. ZhongXiang Zhang, 2000. "Estimating the size of the potential market for the Kyoto flexibility mechanisms," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 136(3), pages 491-521, September.
    2. Warwick J. Mckibbin, 2005. "Climate Change Policy for India," Palgrave Macmillan Books, in: Raghbendra Jha (ed.), Economic Growth, Economic Performance and Welfare in South Asia, chapter 7, pages 121-150, Palgrave Macmillan.
    3. Zhang, ZhongXiang, 2004. "Meeting the Kyoto targets: the importance of developing country participation," Journal of Policy Modeling, Elsevier, vol. 26(1), pages 3-19, January.
    4. Richard B. Stewart & Jonathan B. Wiener, 2003. "Reconstructing Climate Policy," Books, American Enterprise Institute, number 53156, September.
    5. Andreas Löschel & Zhong Zhang, 2002. "The economic and environmental implications of the US repudiation of the kyoto protocol and the subsequent deals in Bonn and Marrakech," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 138(4), pages 711-746, December.
    6. Zhang, ZhongXiang, 1998. "Greenhouse gas emissions trading and the world trading system," MPRA Paper 12971, University Library of Munich, Germany.
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    Cited by:

    1. Zhang, Zhong Xiang, 2012. "Competitiveness and Leakage Concerns and Border Carbon Adjustments," International Review of Environmental and Resource Economics, now publishers, vol. 6(3), pages 225-287, December.
    2. Wei Jin & ZhongXiang Zhang, 2016. "China's pursuit of environmentally sustainable development: Harnessing the new engine of technological innovation," CCEP Working Papers 1601, Centre for Climate & Energy Policy, Crawford School of Public Policy, The Australian National University.
    3. Zhang, ZhongXiang, 2010. "Is it fair to treat China as a Christmas tree to hang everybody's complaints? Putting its own energy saving into perspective," Energy Economics, Elsevier, vol. 32(Supplemen), pages 47-56, September.
    4. ZhongXiang Zhang, 2012. "Climate Change Meets Trade in Promoting Green Growth: Potential Conflicts and Synergies," Chapters, in: Chin Hee Hahn & Sang-Hyop Lee & Kyoung-Soo Yoon (ed.), Responding to Climate Change, chapter 6, Edward Elgar Publishing.
    5. ZhongXiang Zhang, 2015. "Crossing the river by feeling the stones: the case of carbon trading in China," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 17(2), pages 263-297, April.
    6. ZhongXiang Zhang, 2010. "The U.S. proposed carbon tariffs, WTO scrutiny and China’s responses," International Economics and Economic Policy, Springer, vol. 7(2), pages 203-225, August.
    7. Wei Jin & ZhongXiang Zhang, 2014. "Quo Vadis? Energy Consumption and Technological Innovation in China's Economic Growth," CCEP Working Papers 1412, Centre for Climate & Energy Policy, Crawford School of Public Policy, The Australian National University.
    8. Zhongxiang Zhang, 2011. "In what format and under what timeframe would China take on climate commitments? A roadmap to 2050," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 11(3), pages 245-259, September.
    9. 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.
    10. Wei Jin & ZhongXiang Zhang, 2014. "From Energy-intensive to Innovation-led Growth: On the Transition Dynamics of China’s Economy," Working Papers 2014.100, Fondazione Eni Enrico Mattei.
    11. Alex Y. Lo & Michael Howes, 2015. "Power and Carbon Sovereignty in a Non-Traditional Capitalist State: Discourses of Carbon Trading in China," Global Environmental Politics, MIT Press, vol. 15(1), pages 60-82, February.
    12. 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, vol. 36(4), pages 1420-1429, April.
    13. Zhang, ZhongXiang, 2009. "Multilateral trade measures in a post-2012 climate change regime? What can be taken from the Montreal Protocol and the WTO?," Energy Policy, Elsevier, vol. 37(12), pages 5105-5112, December.
    14. Jin, Wei & Zhang, ZhongXiang, 2014. "Quo Vadis? Energy Consumption and Technological Innovation," Working Papers 249494, Australian National University, Centre for Climate Economics & Policy.
    15. Cong, Ren & Lo, Alex Y., 2017. "Emission trading and carbon market performance in Shenzhen, China," Applied Energy, Elsevier, vol. 193(C), pages 414-425.

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    More about this item

    JEL classification:

    • Q52 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Pollution Control Adoption and Costs; Distributional Effects; Employment Effects
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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