Given the global, existential nature of the climate threat, a race to develop green technologies should be desirable, with all countries supporting the relevant industries. But the benefits of such support will largely disappear if every actor defends itself against imports of goods developed with the help of subsidies.
MILAN – Climate change is, by all accounts, accelerating. Not only are summers getting hotter; extreme weather is becoming increasingly frequent, exemplified by the tropical downpours that have wrought havoc across Europe and the powerful hurricanes hitting the Caribbean and the United States ever-earlier in the year. And yet the European Union, which has long positioned itself as a leader in the fight against climate change, appears to be letting myopic thinking trump sound economic logic.
MILAN – Climate change is, by all accounts, accelerating. Not only are summers getting hotter; extreme weather is becoming increasingly frequent, exemplified by the tropical downpours that have wrought havoc across Europe and the powerful hurricanes hitting the Caribbean and the United States ever-earlier in the year. And yet the European Union, which has long positioned itself as a leader in the fight against climate change, appears to be letting myopic thinking trump sound economic logic.