Word: globalization
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Dates: during 2000-2009
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...TIME's global warming covers...
...impunity for decades - was in no position to dictate reductions to developing poor countries. "There is simply no case for the pressure that we, who have among the lowest emissions per capita, face to actually reduce emissions," he said. (Read a story about how India's cows contribute to global warming...
...climate-change summit in Copenhagen, there remains a deep chasm between developed and developing nations on the issue of CO2. Unless that gap is narrowed - and the world can find a way to fairly reduce emissions from rich countries while making developing nations pay their fair share - years of global climate-change negotiations could finally collapse. (See pictures of the elephants of India and the rest of Asia...
President Barack Obama has said that he is concerned about the potential impact of such tariffs on free trade, and that putting up such barriers would only make a global agreement more elusive. But other provisions could give the U.S. quiet leverage over developing nations. Annie Petsonk, the international counsel for the Environmental Defense Fund, says that the U.S. could make access to American carbon markets - which could eventually be worth trillions - contingent on how developing nations deal with climate change, for example by agreeing to mandatory reductions in the rate of growth of their emissions. "Carbon-market access...
...also see China's own currency, the yuan (also known as the renminbi), as a possible alternative to the dollar. There are indications that China intends to make the yuan a greater factor in international trade and investment, a development that, if successful, would have major implications for the global financial system. HSBC economist Qu Hongbin believes that the yuan could become one of the top three currencies in the world by 2012, with some $2 trillion in trade transacted in the Chinese currency each year. "The internationalization of the renminbi has become a leading item on the policy agenda...