April 29, 2009
"Hey buddy can you spare a dime?"
Well of course we ought to help China out! After all this is all our fault right? We can just borrow some more money from them to pay them to emit more while we emit less. They get to grow their economy by industrialisation which helped them to become rich but because we originally became rich by industialisation we are now responsible to clean up their emissions and reduce ours, why because we started it?
"Such reductions would allow the developing world to raise emissions as their economies continue to grow."
FROM-China Economic Review
China joins call for $200b in climate change aid
China, India and South Africa have called on the developed world to contribute at least US$200 billion to help them fight climate change, Bloomberg reported. The three countries, which are among the developing world’s biggest green house gas emitters, said in a proposal to the UN that the funds would equal at least 0.5% of developed nations’ economic output. China also called for industrialized nations to commit to a cutting emissions to at least 40% of 1999 levels by 2020. This is twice the size of cuts the EU has already pledged to make. Such reductions would allow the developing world to raise emissions as their economies continue to grow.