Emission trading scheme was Howards idea.
And price passing to consumers? That was the whole point.
I'm not going to assume anything about China on the bubble, simple because they dont play the same rules, eg: If the stock market crashes? They simply shut down the whole market till the thing blows over. Large company on verge of collapse? They don't bail them out, they take over the sonovabitch, and run it as a state enterprise. Thing is, chinas domestic demand (par real estate in major cities) is still rather low, and wages also rather low, so China has a lot if wiggle room. Besides, a recession will deflate prices, which is good for the average Chinese citizen.... Win win...
I do support putting a price on carbon... And taxing the miners for that matter.
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