G7’s proposed carbon tariffs amount to backdoor protectionism
They would make competition harder for the developing world because most rich countries use carbon more sparingly
27 April 2021 - 16:59
To tackle climate change rich nations are promising to end fossil fuel use in 29 years. As this becomes excruciatingly costly, the Group of Seven (G7) is now thinking about making the world’s poor pay for it. That will go badly.
The rich world has seen an incredible development on the back of enormous increases in mostly fossil fuel energy. A few hundred years ago most available power came from back-breaking human work. Even by the end of the 1800s human labour made up 94% of all industrial work in the US. It now constitutes just 8%...
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