Amazing, New Policy From China's Government - We'll Use Markets To Fight Pollution!

[hatrack]

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Freeing up markets as a way to rein in resource use may reflect evolving thinking inside the party. Strictly controlling many commodity prices served as a way to keep prices low for Chinese consumers and ward off inflation the party fears could cause social unrest.

Even after China's economic planning body raised the country's wholesale natural-gas price by about 15% in June to an average of 1.95 yuan (32 cents) a cubic meter, prices of imported liquefied natural gas remained far more expensive. As a result, the state-controlled energy sector continues to cover the shortfall between the imported and wholesale prices even as it increases the supply of natural gas.

The worsening pollution that resulted from rapid economic growth began in recent years to grate on affluent, educated Chinese, who having joined the middle class were turning to quality-of-life issues. Dismal air quality in many places bred resentment toward state industries that long served as the backbone of growth.

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The relative weakness of the Ministry of Environmental Protection and its local bureaus across China has hampered efforts to reduce pollution, according to scholars and officials. It remains unclear whether the ministry's enforcement powers will be strengthened.

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http://online.wsj.com/news/articles/SB10001424052702304607104579209672150391040?mod=WSJ_World_LEFTSecondNews

[phantom power]

1. goddamn, did they think that up all by themselves?