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Raising Consumption, Maintaining Growth and Reducing Emissions

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  • Nicholas Stern

Abstract

China's 12th five-year plan represents a radical change in strategy. China now sees its future growth within this strategy and accordingly as driven by: a rising share of consumption; moving to a low-carbon economy; and innovation. Two indicators are examined – capital efficiency and the relationship between greenhouse gas emissions and output. These help us to understand the scale of the challenges and possibilities in China over the coming decades. The power of China's example will be immense in influencing the world's transition to a low-carbon economy and thus how successful the world will be in managing the huge risks of climate change. The 12th plan is very likely to establish China as a leader in the new energy-industrial revolution and demonstrate to the world the potential of this revolution. The implications for the rich countries from such radical change are profound and they should be discussing now how they will handle and respond to such massive change.

Suggested Citation

  • Nicholas Stern, 2011. "Raising Consumption, Maintaining Growth and Reducing Emissions," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 12(4), pages 13-34, October.
    • Handle: RePEc:wej:wldecn:493
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    Cited by:

    1. Antonietti, Roberto & Fontini, Fulvio, 2019. "Does energy price affect energy efficiency? Cross-country panel evidence," Energy Policy, Elsevier, vol. 129(C), pages 896-906.
    2. Stern, Nicholas, 2014. "Ethics, equity and the economics of climate change paper 2: economics and politics," LSE Research Online Documents on Economics 62704, London School of Economics and Political Science, LSE Library.
    3. Fankhauser, Samuel & Kotsch, Raphaela & Srivastav, Sugandha, 2020. "The readiness of industry for a transformative recovery from COVID 19," LSE Research Online Documents on Economics 106995, London School of Economics and Political Science, LSE Library.
    4. Nicholas Stern, 2013. "EEthics, Equity and the Economics of Climate Change. Paper 1: Science and Philosophy," GRI Working Papers 84a, Grantham Research Institute on Climate Change and the Environment.
    5. repec:lsg:lsgwps:wp84 is not listed on IDEAS
    6. Sam Fankhauser & Alex Bowen & Raphael Calel & Antoine Dechezlepr�tre & David Grover & James Rydge & Misato Sato, 2012. "Who will win the green race? In search of environmental competitiveness and innovation," GRI Working Papers 94, Grantham Research Institute on Climate Change and the Environment.
    7. Nicholas Stern, 2013. "Ethics, equity and the economics of climate change. Paper 2: Economics and Politics," GRI Working Papers 84b, Grantham Research Institute on Climate Change and the Environment.
    8. Nicholas Stern & James Rydge, 2012. "The New Energy-industrial Revolution and International Agreement on Climate Change," Economics of Energy & Environmental Policy, International Association for Energy Economics, vol. 0(Number 1).

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