Shanghai can become circular economy pioneer
- By Dan Steinbock
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E-mail Shanghai Daily, June 4, 2015
Efforts to push a circular economy will significantly increase in advanced economies in the near future. With China's early-mover advantages in circularity, Shanghai could become an international CE trendsetter.
CE means more than the production and consumption of goods and services.
It includes a shift from fossil fuels to the use of renewable energy and a debate on the role of money and finance.
In the next three years, Shanghai plans to invest 100 billion yuan (US$16.3 billion) on 220 anti-pollution projects.
Among other things, the plan seeks to reduce hazardous PM2.5 particle concentrations drastically to 48 ug/m3, a level closer to international standards (25-35 ug/m3).
While the anti-pollution budget seeks to address some eight core areas, one involves the circular economy. The latter is a way to think about pollution and efforts to minimize it across the entire eco-system.
While the CE concept has been pioneered in advanced economies, China is seen as a leader in implementing the core ideas.
CE pioneer
According to a 2012 McKinsey report, a shift toward circularity could add US$1 trillion to the global economy by 2025 and create 100,000 new jobs within the next five years. However, while advanced economies are struggling to establish appropriate CE legislation, China did so over a decade ago.
At first, Chinese efforts at CE emulated pioneer initiatives in Germany, Japan, the EU, and the US. As double-digit economic expansion began to raise Chinese living standards, both the high level of growth and pollution were unprecedented in world history.
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