It may not be able to afford it
By NATHAN VANDERKLIPPE
The Globe and Mail - Saturday, Nov. 02 2013
Car sales, too, would have to be substantially pared back. Where the
auto industry aims to have 400 million cars on the road in China by
2030, Deutsche Bank reported that a cap of 250 million cars is necessary
for better air quality.
If these changes don’t happen and China
maintains its current course, air quality could be 70 per cent worse in
just over 15 years, the bank forecasts.
Funding a blue sky
One problem is the price tag for all this – particularly given the current uncertainty facing China’s economy.
The
country is now in its 13th quarter of muted growth, the longest
slowdown since economic reforms in 1978. At the same time, academics
estimate that local governments have run up between $2.5-trillion and
$3.5-trillion in debt. The country’s bedrock industries, too, are
feeling pain.
To read more....
No comments:
Post a Comment