China will need to spend nearly 5 trillion yuan, or $817 billion, to fight air pollution, according to Fang Li, spokesman of the Beijing Municipal Bureau of Environmental Protection.
Fang’s startling estimate came on Sept. 23 as he released the Chinese capital’s antipollution blueprint, which promises significant improvements in air quality by 2017.Beijing alone will have to fork out $163 billion to clear its skies, according to Fang.
The Chinese capital has for many years suffered from serious air pollution, but the smog reached record levels last winter when choking haze engulfed the city for weeks. Forced into action by the ensuing public outrage, the government is now unveiling its clean-air strategy as another undoubtedly toxic winter looms.
China’s new three-child policy highlights risks of aging across emerging Asia
Thailand’s (Baa1 stable) total dependency ratio is set to jump nine percentage points to 51% by 2030 – a faster increase than China’s – which will pressure public and private savings through higher taxes and social spending, reducing innovation and productivity gains.
Population aging in China (A1 stable) and other emerging markets in Asia will hurt economic growth, competitiveness and fiscal revenue, unless productivity gains accelerate, according to a new report by Moody’s Investors Service.(more…)
Clear skies over Asia’s new foreign investment landscape?
Compounding the fallout of the US–China trade war, the global pandemic and recession have caused considerable speculation on the future of foreign investment and global value chains (GVCs). But though there is likely to be some permanent change, it will probably not be as great as politicians expect.(more…)
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