Friday, December 31, 2010

China counts £130bn cost of economic growth


Cost of pollution, deteriorating soil and other impacts surged to 1.3tr yuan in 2008 - equivalent to 3.9% of country's GDP

China's economic growth is inflicting more than a trillion yuan's worth of damage on its environment each year, according to a government report that increases pressure on planners to slow the breakneck speed of development.

In one of the longest-term accountings of ecological degradation, the China academy for environmental planning calculated that the cost of pollution spills, deteriorating soil, vanishing wetlands, and other impacts surged to 1.3tr yuan (£130bn) in 2008. This was equivalent to 3.9% of the country's GDP.

See full Article.