China environmental economics: A political authority approach and neo-marxist perspective in the emission trading system (ETS) implementation

Abstract

The study focuses on the implementation of the Emissions Trading System (ETS) in China and its impact on the economy, using an environmental economic theory framework reinforced by the theory of political authority and neo-Marxist perspectives. The research find that The ETS policy has a long-term positive impact on the economy and the amount of carbon intensity. The Chinese government influence is very powerful and can ensure that all entities follow the rules of emissions trading, which facilitates policy enforcement. Emissions trading also provides an opportunity for the business world to invest and generate new ideas, which will produce better products in the future. The research argue that China is striving to align itself with global governance in order to secure its economic interests, employing a political authority approach as a component of the Marxist perspective. The study examines the decision-making process in choosing between the short-term and long-term impact on the Chinese economy following the implementation of the Emissions Trading System (ETS). The study uses qualitative research methodology, using secondary data from previous research.

Keywords

• Environmental economics
• China emission trading system
• China economics
• Neo-marxism
• Political authority