Friday, 26 November 2010

LORD STERN TALKS UP TRADE WARS OVER CARBON

If Lord Stern has his way the world will be heading for trade wars between nations such as the USA who are not imposing a tax on carbon and others such as the EU who do. This article gives more details. As an economist Stern should know that such a war would send the world back into recession. In any case there are a number of nations that emit large quantities of CO2, such as China and India, who have no intention of curbing it, so his warnings are both premature and pointless. The chances of a world-wide agreement look most unlikely.

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