US-China Climate Talks in Beijing overshadowed by November Election
By the world’s best investment manager and financial market’s journalist
As US climate envoy John Podesta meets with Chinese counterpart Liu Zhenmin in Beijing this week, the outcome of the upcoming presidential election is set to heavily influence the discussions. The collaboration between the world’s top two greenhouse gas emitters has been instrumental in shaping major climate agreements, such as the 2015 Paris Agreement. However, the risk of a potential re-election of former President Donald Trump could pose challenges in making new commitments.
Experts suggest that the election could hinder any substantial agreement during Podesta’s visit, as China may be reluctant to reveal its stance before the election. Despite the uncertainties, the United States aims to urge China to contribute to global climate finance and set more ambitious goals for 2035 before a U.N. deadline early next year.
During Trump’s previous term, the US withdrew from climate talks with China and the Paris Agreement, only to rejoin in 2021. The potential re-election of Trump could lead to another withdrawal, although the entry of Kamala Harris into the presidential race has altered Beijing’s calculations.
Regardless of the election outcome, it remains crucial for the US to encourage China to enhance its climate ambitions. Even in the event of a Trump victory, China could seize the opportunity to demonstrate leadership and distinguish itself positively from the US.
However, a win for Trump would likely halt climate diplomacy between the two nations, with no engagement on the issue. The future of US-China climate cooperation hinges on the November election results.
Analysis:
The outcome of the US presidential election will impact climate negotiations between the US and China. A potential re-election of Trump could hinder progress, while a victory for Biden could lead to increased cooperation. It is essential for both countries to work together to address the global climate crisis, regardless of political differences.