Thursday , November 14 2019
Home / Real-World Economics Review / The United States is the world’s second largest economy: when it comes to climate change, it matters

The United States is the world’s second largest economy: when it comes to climate change, it matters

Summary:
From Dean Baker The New York Times has an article on the Trump administration’s decision to pull the United States out of the Paris Agreement on climate change. The first sentence wrongly describes the United States as “the world’s largest economy.” Actually China passed the United States as the world’s largest economy early in the decade. According to the I.M.F. its economy is now more than 25 percent larger than the U.S. economy. It is projected to be more than 50 percent larger by 2024. This matters because China actually has moved aggressively to adopt clean energy. It is now by far the world leader in the use of solar and wind power and electric car sales. The fact that the Trump administration is determined not to cooperate in efforts to reduce greenhouse gas emissions is

Topics:
Dean Baker considers the following as important:

This could be interesting, too:

Yanis Varoufakis writes “Should liberal capitalism be saved?”A debate between Martin Wolf & Yanis Varoufakis, Today, London, Wincott Foundation

John Quiggin writes My best review ever

John Quiggin writes My latest email news

Stavros Mavroudeas writes A short unpublished commentary on the 2019 Kosovo elections

from Dean Baker

The New York Times has an article on the Trump administration’s decision to pull the United States out of the Paris Agreement on climate change. The first sentence wrongly describes the United States as “the world’s largest economy.” Actually China passed the United States as the world’s largest economy early in the decade. According to the I.M.F. its economy is now more than 25 percent larger than the U.S. economy. It is projected to be more than 50 percent larger by 2024.

This matters because China actually has moved aggressively to adopt clean energy. It is now by far the world leader in the use of solar and wind power and electric car sales. The fact that the Trump administration is determined not to cooperate in efforts to reduce greenhouse gas emissions is unfortunate, but the fact that the world’s actual largest economy is taking big steps to curb emissions is hugely important.

Dean Baker
Dean Baker is a macroeconomist and codirector of the Center for Economic and Policy Research in Washington, DC. He previously worked as a senior economist at the Economic Policy Institute and an assistant professor at Bucknell University. He is a regular Truthout columnist and a member of Truthout's Board of Advisers.

Leave a Reply

Your email address will not be published. Required fields are marked *