Cairo, Global Economy, China discussed on All Things Considered

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Next it's all things considered with the latest on the gop tax plan that is poised to pass an update on the amtrak investigation and the new trump judiciary all coming up next this is marketplace i'm cairo's all i know there's been a lot of coverage of the tax bill here and elsewhere but it's probably wise to remember we are all in a global economy one in which today we learned that china is going to start its own market in card and a way to trade greenhouse gas emissions with a goal of cutting them by putting a price on it's a longawaited announcement a lot of climate change watchers were hoping it would have been a bigger deal right now it's just a chinese power sector other big polluters like cement and steel and chemical plants over there have been left out but even with just atrocity china's will be the biggest carbon market in the world from the sustainability desk marketplace's jed kim explains what's going on china's timing in the waning days of the year is not a coincidence china basically comment on and today was basically to last day they could be a shorter watches carbon markets for energy and olympics firm ici yes she says it's a big announcement with a slow roll out that's because even working carbon market these three things one any to know how might everybody emits and carmen and and china that system it's an entice yet honey you also need the system to register the emissions that are registered ethnic and finally of course the actual mechanism to trade allowances and you might get that the that what might china's price on carbon be ramping song is with the world resources institute he says earlier regional programmes in china sought prices hover at about five six dollars per tonne the pub an immediate but change because the national given now so a lot to be figure doubt but he says he measured pace may be good if it helps balance emissions reductions with economic growth polit a pernas with the carbon disclosure project she says the new market will make china way more transparent emissions wise it will by definition have to bring china to standard best practice international veracity all kinds of financial accounting will gradually have to apply to the capitol trade though it'll grow slowly as steadily china's new carbon market is a clear way to show off global leadership i'm jed kim.

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