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China

China's Risky Love Affair With Urbanization

The migration of rural population into Chinese cities is seen by some as the way to ensure a new burst of economic growth. But urbanization-by-state-planning is not the right road.

A construction worker in Shenzen, Guangdong Province
A construction worker in Shenzen, Guangdong Province
Wang Jilin

BEIJING — As the world’s most populous country, China has a general economic advantage in its lower labor costs and huge domestic demand. To a certain degree, both can raise the economy’s potential for growth. Indeed, the so-called “demographic dividend” helps explain a large part of China’s economic growth and rapid industrialization over the past dozen years.

From a global economic perspective, China’s manufacturing with cheap wages and the economic model of encouraging exports to Europe and the United States’ are jointly responsible for creating the “made in China, consumed in the West” model.

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Economy

The Bogus Concept Of "Carbon-Neutral" Oil

The Colombian president recently said that the country had exported one million barrels of carbon-neutral or offset oil. But in an unregulated carbon market, such a claim is pure greenwashing.

People walk in the streets of Bogotá

María Mónica Monsalve Sánchez

-OpEd-

BOGOTÁ - In March this year, various national and corporate leaders met in Houston, Texas, for CERAWeek, an annual conference to discuss the world's energy challenges. Colombia's President Iván Duque took the opportunity to remind participants that his country produced just 0.6% of the world's carbon emissions even as it had raised crude production to one million barrels a day.

He said oil should not be seen as an enemy, since the fight was really against greenhouse gas emissions. He also revealed at the event that the country's national oil firm, Ecopetrol, had sold the Asian market its first million barrels of carbon-neutral or offset crude, consisting of the entire extraction, production and exportation chain.

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