Do you want global warming, nuclear power or poverty?
Graham Searjeant, Financial Editor
CHINA’S economic take-off, closely followed by India’s, is bringing the biggest gains from trade in generations. For those facing competition from cheap goods or outsourcing of services, the process is painful. More than all the world’s development aid, however, this trade revolution offers the real prospect of raising the living standards of billions of people from $1 or $2 a day to decent levels.
Unless the US economy and the eurozone are stuck with low growth, which would itself hobble the rest of the world, regular energy shortages and bouts of high prices look inevitable. On present policies, there will be a direct conflict between the advance of the world’s two most populous countries and stable prosperity in the West. That is only one unwelcome energy effect of Asian expansion. On the IEA’s projections, 85 per cent of additional energy will come from fossil fuels.
If carbon dioxide released when coal, oil and gas are burnt is already heating the earth’s atmosphere alarmingly, as many scientists claim, the impact of China and India coming up to Western levels would be catastrophic.
http://business.timesonline.co.uk/article/0,,8209-1334482,00.html
Graham Searjeant, Financial Editor
CHINA’S economic take-off, closely followed by India’s, is bringing the biggest gains from trade in generations. For those facing competition from cheap goods or outsourcing of services, the process is painful. More than all the world’s development aid, however, this trade revolution offers the real prospect of raising the living standards of billions of people from $1 or $2 a day to decent levels.
Unless the US economy and the eurozone are stuck with low growth, which would itself hobble the rest of the world, regular energy shortages and bouts of high prices look inevitable. On present policies, there will be a direct conflict between the advance of the world’s two most populous countries and stable prosperity in the West. That is only one unwelcome energy effect of Asian expansion. On the IEA’s projections, 85 per cent of additional energy will come from fossil fuels.
If carbon dioxide released when coal, oil and gas are burnt is already heating the earth’s atmosphere alarmingly, as many scientists claim, the impact of China and India coming up to Western levels would be catastrophic.
http://business.timesonline.co.uk/article/0,,8209-1334482,00.html