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Wednesday’s announcement in Beijing that the U.S. and China would jointly embark on an ambitious effort to reduce their greenhouse gas emissions is being scrutinized for its diplomatic and political impact. But economists and others interested in the agreement’s potential economic repercussions are also taking a close look.
A statement on the White House Blog stresses how China and the U.S., the “world’s two largest economies, energy consumers, and carbon emitters are reaching across traditional divides and working together to demonstrate leadership on an issue that affects the entire world.”
But some environmental activists say the announcement is economically and scientifically unrealistic, as well as vague on just how these emission reductions are to occur.