China’s Undervalued Yuan Behind Record Emissions, Study Says
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China’s undervalued yuan is subsidizing energy-intensive export industries that have led to record carbon dioxide emissions, negating the nation’s conservation efforts, a study said.
China’s “depressed exchange rate” has protected coal-powered export industries, such as iron, steel and cement factories and the supply chains producing laptops, electronics and plastics, according to a report by CO2 Scorecard Group, a Winter Park, Florida-based environmental research group whose executives include a former World Bank economist and former energy specialist at the U.S. White House’s budget office.