China's economic growth may be slowing for the first time in decades, but its air pollution is still going gangbusters. The city air is choked with fine particulates, and experts are projecting 3.6 million global deaths due to air pollution by 2050, many of them in China. The country announced this week it would be investing $56 billion in cleaning that up over the next three years, in part to appease, as Reuters reports, "increasingly prosperous urban residents."
Henry Paulson, the former Goldman Sachs CEO and treasury secretary who became the face of the 2008 economic collapse, has some advice for this newly struggling China. Paulson says the country's potential "is stifled by traffic and pollution." From The New York Times:
By adopting a new approach to urbanization, its leaders can assure more balanced investment, address a major source of debt, achieve a consumption windfall and clean up the country’s environment. Otherwise, China’s economic and environmental problems will worsen, with vast implications for the rest of the world ...
A flawed system of municipal finance is driving debt, corruption and dissent, while unsustainable urban planning has yielded polluted cities that are destroying China’s ecosystem. Yet China’s future requires continued urbanization, which, absent a new approach, will only make the problem worse.
Cities can, however, be part of the solution: better urban policies can put China on a healthier path forward, economically and environmentally.
Hey, you know what sounds like a better urban policy to me? Destroying 700 mountains! From The Guardian: