Struggling with jetlag, i had the honour of watching a live telecast of Trump giving a speech from the white house where he basically said that the US was unilaterally withdrawing from an agreement where another 197 countries are parties !!
the main reasons stated are as follows:
1. US was unfairly targetted and that CHINA and INDIA were benefitting!! - well that was the thrust of the agreement in the first place - that developing nations will be given some slack time to allow them to use that time to get into the developed bracket in the global sweepstakes!!
2. By getting out he can open coal mines and other manufacturing industries like steel, cement etc. which have a potential of 6.55Mn jobs and adding 3T$ GDP to the US economy. Methinks Trump just single handedly taken the US from developed status to underdeveloped status. He thinks US will be great again with industries where the median wage is less than 30kUSD? Just imagine these 6.5Mn people plus families numbering over 30million people who cant afford medical insurance (O-care would be gone by then) with pollution related diseases in the next decade - thats a hole in the Balance sheet of the US that is being set up today. His fear was apparant in his voice when he mentioned that the US had over 20T$ of debt - and therein lies a tale - are we looking at a US default on its paper - considering Trump this is a distinct possibility!!
Now for some Data:
Cumulative US emissions are estimated at 25% of global emissions, EU (28nations) is 23%, China at 11% and India at 2%. Its a no brainer that the more developed you are , the more your share of global pollution.
So it was a no brainer that the paris climate deal was made on the central pillar of allowing the low emitters to up their emission to allow their populations the same chance to develop and also the transfer of technologies from the developed nations to the underdeveloped so that this process of development can be expedited.
the long and short of the US leaving the climate deal can be used by the remaining 197 countries to come together to levy a carbon tax on all US exports and that would truly set the circle one full round of karma.
the main reasons stated are as follows:
1. US was unfairly targetted and that CHINA and INDIA were benefitting!! - well that was the thrust of the agreement in the first place - that developing nations will be given some slack time to allow them to use that time to get into the developed bracket in the global sweepstakes!!
2. By getting out he can open coal mines and other manufacturing industries like steel, cement etc. which have a potential of 6.55Mn jobs and adding 3T$ GDP to the US economy. Methinks Trump just single handedly taken the US from developed status to underdeveloped status. He thinks US will be great again with industries where the median wage is less than 30kUSD? Just imagine these 6.5Mn people plus families numbering over 30million people who cant afford medical insurance (O-care would be gone by then) with pollution related diseases in the next decade - thats a hole in the Balance sheet of the US that is being set up today. His fear was apparant in his voice when he mentioned that the US had over 20T$ of debt - and therein lies a tale - are we looking at a US default on its paper - considering Trump this is a distinct possibility!!
Now for some Data:
Cumulative US emissions are estimated at 25% of global emissions, EU (28nations) is 23%, China at 11% and India at 2%. Its a no brainer that the more developed you are , the more your share of global pollution.
So it was a no brainer that the paris climate deal was made on the central pillar of allowing the low emitters to up their emission to allow their populations the same chance to develop and also the transfer of technologies from the developed nations to the underdeveloped so that this process of development can be expedited.
the long and short of the US leaving the climate deal can be used by the remaining 197 countries to come together to levy a carbon tax on all US exports and that would truly set the circle one full round of karma.
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