US & China’s Action Plan not enough
As the Conference of Parties in Copenhagen approaches next week, 192 nations of the World prepare to meet to solve the global pollution problem and find a workable replacement to the Kyoto Protocol. Being something that the US has still not signed up to, what was desperately needed to add weight to this gathering was an official emissions-reduction target from the United States. However the US and China, the 2 largest polluters in the World responsible for 50% of global pollution, have given us little more than a publicity stunt.
Following an historic meeting in mid November 2009, both President Hu Jintao of the People’s Republic of China and President Obama of the United States of America, outlined their “Action Plan”. In this the US and Chinese administration agreed to invest US$150m (yes million, not billion) over 5 years in “research & development” toward mitigating climate change. Breaking it down, they will be investing $75m each over 5 years, so $15m each, each year. It doesn’t take much to see through these glossy magazine-selling statistics and realise that this is little more than a get-out-of-Copenhagen-free card.
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China wants 40% emission cuts by 2020
China issued a surprisingly pleasant statement last week outlining that developed nations should aim to cut their GHG emissions by 40% by 2020 from 1990 levels.
China is believed to be one of the largest GHG emitters with a thriving industrialised economy powered by coal-fired power stations. China’s coal-fired energy is predicted to continue growing for the next few decades however China is also leading the way in carbon sequestration technology development.
The statement, issued by the National Development and Reform Comission, was intended to lay out China’s opinion prior to the Copenhagen summit this December, which will attempt to take over from the previou Kyoto protocols. They also clearly stated that the new policies resulting from Copenhagen must ensure to include all countries which did not previously ratify the Kyoto Agreement – a direct jibe at the US.
Hopefully the next 6 months will see the power players jostling for position and control, each country hoping to enter the Copenhagen conference seen as the leader in order to direct policies to their benefit. Either way, as long as aggressive targets are agreed upon such as this recent one from China, the results will be positive!
Brazil and China primary trading partners
Brazil is the World’s leading exporter in many extremely vital goods such as coffee, soya and iron ore. Due to being the Worlds 5th largest land mass and with a moderate climate apt for agriculture, these and other natural resources have increased Brazil’s trading relationship with China.
Total trade with China for April 2009 reached an all-time high of $3.2bn, topping Brazil’s trade with the US for the first time. China’s demand for soya beans, iron ore and also now fuel are expected to continue this excessive trade increase over the coming years. It is now truly evident that the “global credit crunch” is affecting these two future super-powers far less than more “developed” economies.
Indeed following the recent primary drilling by Petrobas, the Brazil state-owned petroleum company, in to what is believed the largest off-shore oil field, China’s demand for fossil fuels from Brazil is expected to rally also. President Lula de Silva visits Beijing this month to meet the Chinese Premier in the hope of acquiring funding for further solar and wind projects, with oil exploration in the Brazilian Santos Basin is expected sure to be high on Mr Lula’s agenda.
Either way the future trading relationship between Brazil and China is now secured and the countries are now certain to grow together with increased trade over the coming years.
