Environmental Issues of China’s Industrial Development

The article reveals the causes and problems of overcoming the negative impact of industrialization on the environment. The relevance of the topic is growing along with the new Chinese goals of abandoning the role of the “world factory” and the transition to a postindustrial society, which implies further growth of global industrial production and the threat of a global environmental crisis. Theoretically, sustainable green growth is possible. But in fact the lack of funding impedes its achievement. World experience shows that state regulation of “green” growth is needed. The article analyzes the latest measures of the Chinese government to facilitate the green growth and the current achievements. Chinese economic model can afford financing expensive “green” projects with a long payback period, including private ones. China can make use of these advantages abroad. Thus, Chinese “One Belt One Road” Initiative or a new model of “green” industrialization of underdeveloped countries may be considered as a solution to the global environmental problem. It is proved that China has both motives and possibilities to resolve the contradiction between industrialization and the environment. Russia also faces the challenge of modernization, so it can learn a lot from China. But participation in China’s “One Belt One Road” Initiative might be risky for Russia’s economy.