Why Has China not Embraced a Global Cap-and-Trade Regime?
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.
|Date of creation:||Sep 2003|
|Date of revision:||Jul 2007|
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- 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, 09.
- 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.
- Zhang, Zhong Xiang, 2000. "Meeting the Kyoto Targets: the importance of developing country participation," CCSO Working Papers 200013, University of Groningen, CCSO Centre for Economic Research.
- Warwick J. McKibbin, 2004. "Climate Change Policy for India," ASARC Working Papers 2004-03, The Australian National University, Australia South Asia Research Centre.
- Zhang, ZhongXiang, 1998. "Greenhouse gas emissions trading and the world trading system," MPRA Paper 12971, University Library of Munich, Germany.
- 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 02-28, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
- 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.
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