Opinion: China Should Beware of EU Dressing Up Trade Protectionism as a Carbon Border Tax

On July 14, the EU put forward a carbon border adjustment mechanism (CBAM) as an important supplement to its emissions trading scheme. In my view, proceeds from such mechanisms proposed by developed economies must be used to help reduce carbon emissions in developing countries. Otherwise, it is just disguised trade protectionism, and China should cope with it with a forward-looking perspective.