As in the United States, acid rain is becoming quite problematic for the People's Republic of China. Unlike the United States, however, China does not have a comprehensive trading program for controlling sulfur dioxide (SO_2), a primary cause of acid rain. After comparing the different legal regimes of China and the United States, Heather Jarvis and Wei Xu examine the U.S. acid rain SO_2 emissions cap-and-trade program. They then make several recommendations for a similar program in China, taking into account the composition of market participants, the decisionmaking powers of participants, and the role of central government. They conclude that despite the political, economic, and social differences between these two nations, China can learn from the U.S. experiences and implement a highly successful cap-and-trade program of its own.
展开▼
