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...emphasized the importance of economic development first in his speech - the Panda Standard is a sign that China could see a stake in the creation of a global carbon market. "Any carbon market inside China has the potential to be a game changer," says David Yarnold, the executive director of the Environmental Defense Fund...
...Peter Churchouse, a director at a Hong Kong investment research and advisory firm, says he doesn't think Hong Kong's housing market is a bubble. But some analysts worry that low interest rates, high liquidity and a tight supply of new apartments could fuel irrational exuberance. Churchouse says: "I could easily see this market developing into a bubble, but it's not a bubble yet." That should be of some comfort for the buyer who just paid $3.16 million for a 590 sq. ft. apartment...
...unlikely event that Germans dump their popular Chancellor, Angela Merkel, in the country's election on Sept. 27, what would be the legacy of her four years in power? One key achievement, according to Volker Perthes, director of the German Institute for International and Security Affairs, is the Lisbon Treaty, which was designed to reform and streamline the workings of the European Union. "Without Merkel's involvement, and the role played by Germany, there would be no Lisbon Treaty now," Perthes says. But if that's the cornerstone of Merkel's foreign policy, she could see her legacy crumble less...
...Russia and China, and a faith in negotiations and sanctions to bring recalcitrant countries like Iran back into constructive dialogue. Just don't look to Berlin for big ideas or robust new approaches to international problems. "There has been a passive consensus on foreign policy issues," says Jan Techau, director of the Europe Program at the German Council on Foreign Relations. "But that passivity is inappropriate now, as Germany faces increasing demands from NATO - for example, burden-sharing in Afghanistan and on the general discussion about the future of NATO." (See pictures of the Berlin Wall...
...fired electricity plants, the primary source of CO2 emissions, to meet its surging power demands. Overall, in 2009 China will probably add about 80 to 100 gigawatts of capacity to its electricity grid, and 75% to 80% of that will be from coal. In effect, says Gerald Page, managing director of Equinox Energy Partners in Beijing, a venture capital firm, China is adding 1 gigawatt of coal-fired capacity every five days. And that's not going to change anytime soon. (See pictures of the making of modern China...