China
China’s influence grows at COP29 climate talks as US leadership fades
The 2024 U.N. climate talks in Baku yielded mixed results, agreeing to increase funding for developing nations. However, challenges remained in addressing greenhouse gas emissions and achieving sustainable progress.
The 2024 U.N. climate talks ended in Baku, Azerbaijan, on Nov. 24 after two weeks of arguments, agreements and side deals involving 106 heads of states and over 50,000 business leaders, activists and government representatives of almost every country.
Few say the conference was a resounding success. But neither was it a failure.
The central task of the conference, known as COP29, was to come up with funding to help developing countries become more resilient to the effects of climate change and to transition to more sustainable economic growth.
The biggest challenge was agreeing on who should pay, and the results say a lot about the shifting international dynamics and offer some insight into China’s role. As a political science professor who has worked on clean tech policy involving Asia, I followed the talks with interest.
Slow global progress
Over three decades of global climate talks, the world’s countries have agreed to cut their emissions, phase out fossil fuels, end inefficient fossil-fuel subsidies and stop deforestation, among many other landmark deals.
They have acknowledged since the Rio Earth Summit in 1992, when they agreed to the U.N. Framework Convention on Climate Change, that greenhouse gas emissions produced by human activities, including the burning of fossil fuels, would harm the climate and ecosystems, and that the governments of the world must work together to solve the crisis.
But progress has been slow.
Greenhouse gas emissions were at record highs in 2024. Governments are still subsidizing fossil fuels, encouraging their use. And the world is failing to keep warming under 1.5 degrees Celsius compared with preindustrial times – a target established under the 2015 Paris Agreement to avoid the worst effects of climate change.
Extreme weather, from lethal heat waves to devastating tropical cyclones and floods, has become more intense as temperatures have risen. And the poorest countries have faced some of the worst damage from climate change, while doing the least cause it.
Money for the poorest countries
Developing countries argue that they need US$1.3 trillion a year in financial support and investment by 2035 from the wealthiest nations – historically the largest greenhouse gas emitters – to adapt to climate change and develop sustainably as they grow.
That matters to countries everywhere because how these fast-growing populations build out energy systems and transportation in the coming decades will affect the future for the entire planet.
Negotiators at the COP29 climate talks. Less developed countries were unhappy with the outcome.
Kiara Worth/UN Climate Change via Flickr
At the Baku conference, member nations agreed to triple their existing pledge of $100 billion a year to at least $300 billion a year by 2035 to help developing countries. But that was far short of what economists have estimated those countries will need to develop clean energy economies.
The money can also come from a variety of sources. Developing countries wanted grants, rather than loans that would increase what for many is already crushing debt. Under the new agreement, countries can count funding that comes from private investments and loans from the World Bank and other development banks, as well as public funds.
Groups have proposed raising some of those funds with additional taxes on international shipping and aviation. A U.N. study projects that if levies were set somewhere between $150 and $300 for each ton of carbon pollution, the fund could generate as much as $127 billion per year. Other proposals have included taxing fossil fuels, cryptocurrencies and plastics, which all contribute to climate change, as well as financial transactions and carbon trading.
China’s expanding role
How much of a leadership role China takes in global climate efforts is an important question going forward, particularly with U.S. President-elect Donald Trump expected to throttle back U.S. support for climate policies and international funding.
China is now the world’s largest emitter of greenhouse gases and the second-largest economy.
China also stands to gain as provider of the market majority of green technologies, including solar panels, wind turbines, batteries and electric vehicles.
Whether or not China should be expected to contribute funding at a level comparable to the other major emitters was so hotly contested at COP29 that it almost shut down the entire conference.
Previously, only those countries listed by the U.N. as “developed countries” – a list that doesn’t include China – were expected to provide funds. The COP29 agreement expands that by calling on “all actors to work together to enable the scaling up of financing.”
In the end, a compromise was reached. The final agreement “encourages developing countries to make contributions on a voluntary basis,” excluding China from the heavier expectations placed on richer nations.
Side deals offer signs of progress
In a conference fraught with deep division and threatened with collapse, some bright spots of climate progress emerged from the side events.
In one declaration, 25 nations plus the European Union agreed to no new coal power developments. There were also agreements on ocean protection and deforestation. Other declarations marked efforts to reenergize hydrogen energy production and expanded ambitious plans to reduce methane emissions.
Future of UN climate talks
However, after two weeks of bickering and a final resolution that doesn’t go far enough, the U.N. climate talks process itself is in question.
In a letter on Nov. 15, 2024, former U.N. Secretary-General Ban Ki-moon and a group of global climate leaders called for “a fundamental overhaul to the COP” and a “shift from negotiation to implementation.”
After back-to-back climate conferences hosted by oil-producing states, where fossil-fuel companies used the gathering to make deals for more fossil fuels on the side, the letter also calls for strict eligibility requirements for conference hosts “to exclude countries who do not support the phase out/transition away from fossil energy.”
With Trump promising to again withdraw the U.S. from the Paris Agreement, it is possible the climate leadership will fall to China, which may bring a new style of climate solutions to the table.
This article is republished from The Conversation under a Creative Commons license. Read the original article.
Business
China Reports Agreement on Ceasefire between Myanmar’s Factions
Myanmar’s conflicting parties have reached a ceasefire agreement, facilitated by China, aiming to reduce violence and promote peace in the region.
Myanmar Ceasefire Agreement
In a significant development, conflicting parties in Myanmar have reached an agreement for a ceasefire, with China facilitating discussions. This breakthrough is crucial for restoring peace in a nation that has been marred by violence and political strife in recent years. The ceasefire aims to pave the way for reconciliation efforts and improve the humanitarian situation in affected areas.
Role of China
China’s involvement as a mediator highlights its growing influence in resolving regional conflicts. The Chinese government has been working closely with both sides to promote dialogue and trust, crucial elements for a long-term peace solution. Increased stability in Myanmar can benefit regional security and economic development, making China’s mediation significant.
Looking Forward
The hope is that this ceasefire will lead to further negotiations addressing underlying issues in Myanmar. While challenges remain, both parties have expressed willingness to work towards a peaceful resolution. The international community will be watching closely to see if this ceasefire can be sustained and lead to enduring peace for the people of Myanmar.
China
2024 China Economic Review: GDP, Trade, and Foreign Direct Investment Analysis
In 2024, China’s economy grew 5%, supported by stimulus measures, strong exports, and high-tech investments, despite weak domestic demand and demographic challenges. Key sectors like manufacturing and digital economy thrived, necessitating structural reforms for sustained growth into 2025.
China’s economy grew 5% in 2024, driven by stimulus measures, strong exports, and high-tech investment, despite challenges like weak domestic demand and demographic pressures. Structural reforms and targeted policies are essential for sustaining growth into 2025.
China’s economic performance in 2024 saw a return to steady growth, achieving a 5 percent GDP expansion in line with the government’s target, as per the official data released by the National Bureau of Statistics (NBS) on January 17, 2025. This outcome was largely bolstered by stimulus measures that helped drive a stronger-than-expected fourth-quarter recovery. While the country’s economy faced challenges such as declining population numbers and sluggish consumer demand, there were signs of optimism across key sectors, including industrial output and digital economy growth.
Additionally, China is beginning to pivot away from its dependence on the property sector, with the digital economy playing an increasingly significant role in economic expansion.
This article explores the major economic highlights from 2024 and examines the key trends, challenges, and opportunities that will shape China’s economy in the year ahead.
In 2024, China’s GDP reached RMB 134.91 trillion (US$18.80 trillion), maintaining its position as the second-largest economy in the world, behind only the United States, whose projected GDP for 2024 stands at approximately US$29 trillion. This reflects a year-on-year growth of 5.0 percent, in line with the government’s official target of “around 5 percent“ set during the 2024 Two Sessions. While slower than the 5.2 percent growth achieved in 2023, it highlights a stable recovery largely driven by strong export performance and targeted stimulus measures throughout the year.
The economy saw accelerated growth in the final quarter of 2024, with GDP expanding by 5.4 percent, surpassing expectations and making a substantial contribution to the overall 5.0 percent increase. Indeed, quarterly growth performance in 2024 showed steady improvement: the first quarter recorded a 5.3 percent increase, followed by 4.7 percent in Q2, and 4.6 percent in Q3.
Sectoral performance highlights revealed the manufacturing and service sectors as key drivers.
| This article was first published by China Briefing , which is produced by Dezan Shira & Associates. The firm assists foreign investors throughout Asia from offices across the world, including in in China, Hong Kong, Vietnam, Singapore, and India . Readers may write to info@dezshira.com for more support. |
Read the rest of the original article.
China
How China’s appetite for salmon could reshape global seafood markets – new research
China’s salmon demand surged 46% in 2023, prompting global exporters to respond. Challenges in domestic salmon production highlight opportunities for rainbow trout, reshaping the seafood market towards sustainability and consumer preferences.
China’s demand for farmed salmon is growing at an unprecedented pace. In 2023, its imports grew by 46% year on year – with imports of fresh and chilled Atlantic salmon up 63%.
This remarkable growth is reshaping the global seafood trade. Exporters from Scotland, Norway, Chile, Australia, Faroe Islands, Canada and Iceland are racing to supply the needs of this vast and rapidly evolving market.
At the same time, China’s efforts to produce its own Atlantic salmon have faced significant challenges, highlighting the need for substitutes like rainbow trout to meet the country’s growing appetite for seafood delicacies.
An important shift occurred in 2018, when the Chinese government permitted rainbow trout to be labelled and sold as salmon. This decision blurred the distinction between imported Atlantic salmon and locally farmed rainbow trout, creating a more accessible option for cost-sensitive consumers.
Trout is comparable to salmon in appearance and size, with firm and oily meat that has a similar orange-pink colour. Nutritionally too, the species are alike, as are the ways in which they can be cooked and prepared.
In our new research which included taste tests, we found that many Chinese consumers could not distinguish between domestic rainbow trout and imported Atlantic salmon in blind testing. But when informed about the origin, testers’ preferences shifted strongly in favour of imported Atlantic salmon, highlighting the power of provenance in consumer tastes.
Although people’s willingness to pay did not vary initially in our blind tests, it became a decisive factor once the origin of the fish was revealed.
But we found that origin alone was not enough. For our testers to be prepared to pay higher prices, they also had to like the look, smell and taste of the product more, or be persuaded by its ecolabel (indicating environmental standards).
Environmental costs
Transporting Atlantic salmon from Scottish lochs, Norwegian fjords or Chilean waters to Chinese markets involves complex logistics and significant environmental costs. The carbon footprint of this trade, combined with the resource-intensive nature of salmon aquaculture, raises critical concerns about sustainability.
These challenges are particularly pronounced in China, where consumers have a strong preference for freshness. This drives demand for quick delivery of imported salmon despite its environmental impact, and consumers are increasingly turning to online platforms to buy their seafood.
E-commerce has reshaped seafood retail in China, offering quick delivery and products that cater to consumer demand for quality and freshness. Salmon stands out in this market due to its perceived high value, premium quality and price point. Unlike other expensive seafood that often needs to be sold live to maintain its value, salmon retains its appeal when chilled or frozen.
This makes salmon particularly suited to modern retail models, where sophisticated cold-chain logistics ensure its freshness without the complexities of live transport. However, these innovations come at a cost.
The energy-intensive storage and rapid transportation required for imported salmon contribute significantly to environmental harm. As China’s seafood market continues to grow, addressing the sustainability challenges associated with this trade will be critical to balancing consumer demand with environmental responsibility. Current international certification schemes aiming to improve the sector’s sustainability have had limited impact in China so far.
A worker processing imported fresh salmon in a Beijing wholesale seafood market.
David Little, Author provided
China has made significant efforts to establish a domestic Atlantic salmon industry, but these attempts have largely been unsuccessful due to technical challenges and environmental constraints. This has left a gap that domestically farmed rainbow trout is poised to fill.
A trout farming raceway in Chengdu, China, supplied with fresh river water.
Zixuan Ma, Author provided
In 2022, China produced 37,000 tonnes of rainbow trout. This is a relatively small amount compared with international production levels, but still notable considering that rainbow trout is a new farmed species in China, unlike traditional species like carp.
However, rainbow trout farming in China is geographically constrained, as the species thrives in cooler freshwater temperatures found in higher-lying lakes and reservoirs, as well as in “raceways” (channels supplied continuously with fresh water diverted from rivers).
Advances in aquaculture systems offer a potential pathway to expand China’s production. Trout farming is a more sustainable, locally sourced alternative to Atlantic salmon that reduces the carbon footprint associated with imports and ensures fresher options for Chinese consumers. Developing a robust domestic trout industry could enhance food security, reduce dependence on imports, and create economic opportunities in rural areas.
China’s evolving seafood market offers valuable lessons for the global industry. Emphasising quality, freshness and sustainability will resonate with the increasingly sophisticated Chinese consumer.
At the same time, investment in eco-friendly aquaculture practices, both domestically and internationally, will be essential to balance the growing demand for premium seafood with environmental responsibility. These could include reducing feed waste and recirculating aquaculture systems (which filter and reuse water) to minimise water use. Recycling waste nutrients by using them elsewhere in food production could also be key.
As rainbow trout gains prominence in China’s seafood landscape, the relationship between consumer preferences, environmental concerns and economic opportunities could in turn shape the future of the global salmon trade.
If domestic fish captures a larger share of the Chinese market, salmon producers in Europe, Canada and other exporting regions may face significant challenges. This could ultimately force them to rethink their strategies in order to adapt to shifting market dynamics.
Although the goal of creating a domestic Atlantic salmon industry has proved difficult for China, trout farming presents a practical and sustainable solution for its luxury seafood sector.
This article is republished from The Conversation under a Creative Commons license. Read the original article.
- China Reports Agreement on Ceasefire between Myanmar’s Factions
- 2024 China Economic Review: GDP, Trade, and Foreign Direct Investment Analysis
- How China’s appetite for salmon could reshape global seafood markets – new research
- China Limits Apple Operations as BYD Manufacturing Moves to India and Southeast Asia Amid Trade Frictions | International Business News – The Times of India
- China’s GDP Grows 5% in 2024: Key Insights and Main Factors
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