Countries moved a step closer on Saturday (Nov 4)&nbsp;to getting a fund off the ground to help poor states damaged by climate disasters, despite reservations from developing nations and the United States.&nbsp;

The deal to create a "loss and damage" fund was hailed as a breakthrough for developing country negotiators at United Nations climate talks in Egypt last year, overcoming years of resistance from wealthy nations.

But in the past 11 months, governments have struggled to reach consensus on the details of the fund, such as who will pay and where the fund will be located.&nbsp;

A special UN committee tasked with implementing the fund met for a fifth time in Abu Dhabi this week - following a deadlock in Egypt last month - to finalise recommendations that will be put to governments when they meet for the annual climate summit COP28 in Dubai in less than four weeks' time. The goal is to get the fund up and running by 2024.&nbsp;

The committee, representing a geographically diverse group of countries, resolved to recommend the&nbsp;World&nbsp;Bank&nbsp;serve as trustee and host of the fund - a tension point that has fuelled divisions between developed and developing nations.

Housing a fund at the&nbsp;World&nbsp;Bank, whose presidents are appointed by the US, would give donor countries outsized influence over the fund and result in high fees for recipient countries, developing countries have argued.

Watch:&nbsp;Pakistan economic crisis: 12.5 mn people fall below poverty line; World Bank flags dire situation

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To get all countries on board, it was agreed the&nbsp;World&nbsp;Bank&nbsp;would serve as interim trustee and host of the fund for a four-year period.

Jennifer Morgan, Germany's special climate envoy, said in a post on X that Berlin "stands ready to fulfil its responsibility - we're actively working towards contributing to the new fund and assessing options for more structural sources of financing".

Others were less optimistic.

“It is a sombre day for climate justice, as rich countries turn their backs on vulnerable communities," said Harjeet Singh, head of global political strategy at nonprofit Climate Action Network International.

"Rich countries ... have not only coerced developing nations into accepting the&nbsp;World&nbsp;Bank&nbsp;as the host of the Loss and Damage Fund but have also evaded their duty to lead in providing financial assistance to those communities and countries."

<a href="https://www.wionews.com/india-news/took-6-years-instead-of-47-world-bank-lauds-indias-digitisation-drive-ahead-of-g20-633655">Also read:&nbsp;‘Took 6 years instead of 47`: World Bank lauds India’s digitisation drive ahead of G20</a>

The committee also recommended that developed countries be urged to continue to provide support to the fund, but failed to resolve whether wealthy nations would be under strict financial obligation to do chip in.

"We regret that the text does not reflect consensus concerning the need for clarity on the voluntary nature of contributions," a US&nbsp;State Department official told Reuters.

The US&nbsp;attempted to include a footnote clarifying that any contributions to the fund would be voluntary, but the committee chair did not allow it. The US&nbsp;objected to that denial.

Sultan al-Jaber, who will preside over the COP28 talks, said he welcomed the committee's recommendations and that they would pave the way for an agreement at COP28.&nbsp;

(With inputs from agencies)

Countries moved a step closer on Saturday (Nov 4) to getting a fund off the ground to help poor states damaged by climate disasters, despite reservations from developing nations and the United States.

Countries moved a step closer on Saturday (Nov 4) to getting a fund off the ground to help poor states damaged by climate disasters, despite reservations from developing nations and the United States. The deal to create a "loss and damage" fund was hailed as a breakthrough for developing country negotiators at United Nations climate talks in Egypt last year, overcoming years of resistance from wealthy nations. But in the past 11 months, governments have struggled to reach consensus on the details of the fund, such as who will pay and where the fund will be located. A special UN committee tasked with implementing the fund met for a fifth time in Abu Dhabi this week - following a deadlock in Egypt last month - to finalise recommendations that will be put to governments when they meet for the annual climate summit COP28 in Dubai in less than four weeks' time. The goal is to get the fund up and running by 2024. The committee, representing a geographically diverse group of countries, resolved to recommend the World Bank serve as trustee and host of the fund - a tension point that has fuelled divisions between developed and developing nations. Housing a fund at the World Bank, whose presidents are appointed by the US, would give donor countries outsized influence over the fund and result in high fees for recipient countries, developing countries have argued. Watch: Pakistan economic crisis: 12.5 mn people fall below poverty line; World Bank flags dire situation × To get all countries on board, it was agreed the World Bank would serve as interim trustee and host of the fund for a four-year period. Jennifer Morgan, Germany's special climate envoy, said in a post on X that Berlin "stands ready to fulfil its responsibility - we're actively working towards contributing to the new fund and assessing options for more structural sources of financing". Others were less optimistic. “It is a sombre day for climate justice, as rich countries turn their backs on vulnerable communities," said Harjeet Singh, head of global political strategy at nonprofit Climate Action Network International. "Rich countries ... have not only coerced developing nations into accepting the World Bank as the host of the Loss and Damage Fund but have also evaded their duty to lead in providing financial assistance to those communities and countries." Also read: ‘Took 6 years instead of 47`: World Bank lauds India’s digitisation drive ahead of G20 The committee also recommended that developed countries be urged to continue to provide support to the fund, but failed to resolve whether wealthy nations would be under strict financial obligation to do chip in. "We regret that the text does not reflect consensus concerning the need for clarity on the voluntary nature of contributions," a US State Department official told Reuters. The US attempted to include a footnote clarifying that any contributions to the fund would be voluntary, but the committee chair did not allow it. The US objected to that denial. Sultan al-Jaber, who will preside over the COP28 talks, said he welcomed the committee's recommendations and that they would pave the way for an agreement at COP28. (With inputs from agencies)

World Bank to host climate loss and damage fund amid concerns by developing nations

As Pakistan goes through a harrowing ordeal with incessant monsoon rains submerging a third of the country, federal climate minister Sherry Rehman has argued that the western nations owe developing nations reparations for accelerating climate change.

As Pakistan goes through a harrowing ordeal with incessant monsoon rains submerging a third of the country, federal climate minister Sherry Rehman has argued that the western nations owe developing nations reparations for accelerating climate change. “There is so much loss and damage with so little reparations to countries that contributed so little to the world’s carbon footprint that obviously the bargain made between the global north and global south is not working," said Rehman in an interview with The Guardian. Rehman in clear terms batted for a reset of targets and asserted that “richer countries must do more”. “Historic injustices have to be heard and there must be some level of climate equation so that the brunt of the irresponsible carbon consumption is not being laid on nations near the equator which are obviously unable to create resilient infrastructure on their own,” added Rehman. Rehman was named the climate change minister in April earlier this year when Imran Khan was ousted as the prime minister. She has been a vocal critic of the western nations who have often dubbed the developing nations as the major contributor to greenhouse emissions, contrary to data available. “Big polluters often try to greenwash their emissions but you can’t walk away from the reality that big corporations that have net profits bigger than the GDP of many countries need to take responsibility,” added Rehman. “Global warming is the existential crisis facing the world and Pakistan is ground zero – yet we have contributed less than 1 per cent to [greenhouse gas] emissions. We all know that the pledges made in multilateral forums have not been fulfilled.” Read more: Pakistan PM responds to PM Modi after latter's tweet on Pakistan flood situation Rehman's arguments indeed paint the right picture as the South Asian country has witnessed a flurry of extremes of climate catastrophes, primarily caused due to historic carbon emissions from the west. According to National Disaster Management Authority (NDMA) the floods that inundated a third of the country, affecting over 33 million people, were preceded by numerous climate change instances, like four heatwaves, and various raging forest fires. WATCH | Pakistan Floods: One-third of country underwater, Child deaths, waterborne diseases, UN expresses concern × Even as relief efforts continue, the devastating floods have claimed nearly 1,300 lives while more than 736,459 animals have lost their lives as well. According to official estimates, the destruction by the floods has already cost the Pakistani exchequer more than $10 billion. Read more: Devastating floods in Pakistan claimed lives of nearly 1,300 people For a country that has been under extreme financial duress for quite some time, the long-term effect of the last two months could be devastating. (With inputs from agencies) WATCH WION LIVE HERE:

Western countries owe reparations to developing nations facing climate change, says Pakistan minister

A new research now says that nearly 1.81 billion people are directly exposed to severe floods. Nearly 90% of exposed people live in developing nations. Most vulnerable population are in South and East Asia. China & India account for a third of the exposed population.

WION Climate Tracker- Study: 1 in 4 at risk from severe floods

Indian Prime Minister Narendra Modi said called on the rich nations to set a target of providing at least one percent of their GDP for financing green projects in the developing world.

Rich nations must spend 1% of GDP to fund green projects in developing countries: PM Modi

The US Trade Representative(USTR) has released a list of countries designating WTO members that are eligible for subsidy in which India and&nbsp;several other countries have been barred from getting special preferences under the US &nbsp;countervailing duty (CVD) law.

<a href="https://www.wionews.com/world/post-brexit-uk-trade-deal-with-us-optimistic-mnuchin-276612">Also Read: Post-Brexit UK trade deal with US 'optimistic', says Treasury Secretary Mnuchin</a>

According to the list, 44 countries were categorised as "least-developed countries and 35 countries as developing countries".

"For purposes of US CVD law, the USTR therefore considers countries with a share of 0.5% or more of world trade to be developed countries,"&nbsp;the USTR said in a notice. Hong Kong, Brazil, Indonesia and South Africa were also eliminated from the list.

"The US Trade Representative, therefore, considers countries with a share of 0.5 per cent or more of world trade to be developed countries. Thus, Brazil, India, Indonesia, Malaysia, Thailand, and Viet Nam are ineligible for the 2&nbsp;per cent de minimis standard," the notice read.

<a href="https://www.wionews.com/india-news/us-pushes-india-to-buy-5-6-billion-more-farm-goods-to-seal-trade-deal-report-276396">Also Read: US pushes India to buy $5-6 billion more farm goods to seal trade deal</a>

The final rule will become effective February 10, 2020, it announced.

Similar to the 1998 rule, the US Trade Representative relied on the World Bank threshold separating "high income" countries from those with lower per capita GNIs. This means that WTO Members with a per capita GNI below $12,375 were treated as eligible for the 2 per cent de minimis standard, it said.

The agency categorised Afghanistan, Pakistan, Bangladesh, Myanmar, Nepal, Zimbabwe, Cambodia among others as "Least-Developed Countries" with Maldives, Sri Lanka, Venezuela among others designated as "Developing Countries".

The US Trade Representative(USTR) has released a list of countries designating WTO members that are eligible for subsidy in which India and several other countries have been barred from getting special preferences under the US countervailing duty (CVD) law.

The US Trade Representative(USTR) has released a list of countries designating WTO members that are eligible for subsidy in which India and several other countries have been barred from getting special preferences under the US countervailing duty (CVD) law. Also Read: Post-Brexit UK trade deal with US 'optimistic', says Treasury Secretary Mnuchin According to the list, 44 countries were categorised as "least-developed countries and 35 countries as developing countries". "For purposes of US CVD law, the USTR therefore considers countries with a share of 0.5% or more of world trade to be developed countries," the USTR said in a notice. Hong Kong, Brazil, Indonesia and South Africa were also eliminated from the list. "The US Trade Representative, therefore, considers countries with a share of 0.5 per cent or more of world trade to be developed countries. Thus, Brazil, India, Indonesia, Malaysia, Thailand, and Viet Nam are ineligible for the 2 per cent de minimis standard," the notice read. Also Read: US pushes India to buy $5-6 billion more farm goods to seal trade deal The final rule will become effective February 10, 2020, it announced. Similar to the 1998 rule, the US Trade Representative relied on the World Bank threshold separating "high income" countries from those with lower per capita GNIs. This means that WTO Members with a per capita GNI below $12,375 were treated as eligible for the 2 per cent de minimis standard, it said. The agency categorised Afghanistan, Pakistan, Bangladesh, Myanmar, Nepal, Zimbabwe, Cambodia among others as "Least-Developed Countries" with Maldives, Sri Lanka, Venezuela among others designated as "Developing Countries".

US drops India from developing nations list barring trade benefits

US President <a href="https://www.wionews.com/americas/india-charging-us-over-100-per-cent-tariffs-on-many-products-donald-trump-208487">Donald Trump</a> on Tuesday said that countries like<a href="https://www.wionews.com/india-news/india-us-trade-talks-to-restart-friday-amid-few-signs-of-compromise-234949"> India </a>and China take advantage of the 'developing nations' tag from the WTO.

Addressing a gathering at Pennsylvania on Tuesday, President Trump said "China, India, many countries -&nbsp;for a long time, they viewed them as “they’re growing.”&nbsp;Right?&nbsp;They’re “growing nations.”&nbsp;We’re a “mature nation.”&nbsp;They’re growing.&nbsp;These are “growing nations," said US president.

"Well, they’ve grown.&nbsp;And they had tremendous advantages.&nbsp;But we’re not letting that happen anymore, okay?&nbsp;We’re not letting that happen anymore," he added

Donald Trump told the conference that economic growth promoted by his policies would help the world, in an attempt to square his “America First” agenda with globalism.

Trump, championing his 'America First' policy, has been a vocal critic of India for levying "tremendously high" duties on US products and has described the country as a <a href="https://www.wionews.com/world/tariff-king-india-wants-trade-talks-us-immediately-says-trump-168847">"tariff king".</a>

Last February, India slashed the customs duty on imported motorcycles like Harley-Davidson to 50 per cent after Trump called it "unfair" and threatened to increase the tariff on import of Indian bikes to the US.

Trade between and India and the US was worth $142.1 billion in 2018, with India having a surplus of $24.2 billion.

US President Donald Trump on Tuesday said that countries like India and China take advantage of the 'developing nations' tag from the WTO. Addressing a gathering at Pennsylvania on Tuesday, President Trump said "China, India, many countries - for a long time, they viewed them as “they’re growing.

US President Donald Trump on Tuesday said that countries like India and China take advantage of the 'developing nations' tag from the WTO. Addressing a gathering at Pennsylvania on Tuesday, President Trump said "China, India, many countries - for a long time, they viewed them as “they’re growing.” Right? They’re “growing nations.” We’re a “mature nation.” They’re growing. These are “growing nations," said US president. "Well, they’ve grown. And they had tremendous advantages. But we’re not letting that happen anymore, okay? We’re not letting that happen anymore," he added Donald Trump told the conference that economic growth promoted by his policies would help the world, in an attempt to square his “America First” agenda with globalism. Trump, championing his 'America First' policy, has been a vocal critic of India for levying "tremendously high" duties on US products and has described the country as a "tariff king". Last February, India slashed the customs duty on imported motorcycles like Harley-Davidson to 50 per cent after Trump called it "unfair" and threatened to increase the tariff on import of Indian bikes to the US. Trade between and India and the US was worth $142.1 billion in 2018, with India having a surplus of $24.2 billion.

Trump accuses India, China of taking advantage of 'developing nations' tag in WTO

Many observers of China&rsquo;s escalating global program of foreign investment and infrastructure development are crossing their fingers and hoping for the best. In an ideal world, China&rsquo;s unbridled ambitions will improve economic growth, food security and social development in many poor nations, as well as enrich itself.

Such hopes are certainly timely, given the isolationism of the US Trump administration, which has created an international leadership vacuum that China is eager to fill.

But a close look reveals that China&rsquo;s international agenda is far more exploitative than many realise, especially for the global environment. And the Chinese leadership&rsquo;s claims to be embracing &ldquo;green development&rdquo; are in many cases more propaganda than fact.

To help steer through the maze, I provide here a snapshot of China&rsquo;s present environmental impacts. Are China&rsquo;s assertions reasoned and defensible, or something else altogether?

Predatory force?

For a start, China is overwhelmingly the world&rsquo;s biggest consumer of illegally poached wildlife and wildlife products. From rhino horn&nbsp;to pangolins, to shark fins, to a menagerie of wild bird species, Chinese consumption drives much of the global trade in wildlife exploitation and smuggling.

Over the past 15 years, China&rsquo;s rapacious appetite for ivory has largely driven a global collapse of elephant populations. In response to growing international criticism, China promised to shut down its domestic ivory trade by the end of 2017.

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The author examining a Forest Elephant gunned down by ivory poachers in central Africa. (Others)
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But even before China&rsquo;s ban has taken full force, a black market for ivory is developing in neighbouring Laos. There, Chinese entrepreneurs are churning out great quantities of carved ivory products, specifically designed for Chinese tastes and openly sold to Chinese visitors.

China is also the world&rsquo;s biggest importer of illegal timber, a trade that imperils forests while defrauding developing nations of billions of dollars each year in timber royalties.

China claims to be working to reduce its illegal timber imports, but its efforts are half-hearted at best, judging by the amount of illegal timber still flowing across its border with Myanmar.

<a href="http://www.wionews.com/world/terrorism-fashion-and-illegal-animal-trafficking-20996">Also read: Terrorism, fashion and Illegal animal trafficking</a>

Infrastructure tsunami

More damaging still are China&rsquo;s plans for infrastructure expansion that will irreparably degrade much of the natural world.

China&rsquo;s One Belt One Road initiative alone will carve massive arrays of new roads, railroads, ports, and extractive industries such as mining, logging, and oil and gas projects into at least 70 nations across Asia, Europe, and Africa.

Chinese President Xi Jinping promises that the Belt and Road initiative will be &ldquo;green, low-carbon, circular and sustainable&rdquo;, but such a claim is profoundly divorced from reality.

As my colleagues and I recently argued in Science and Current Biology, the modern infrastructure tsunami that is largely being driven by China will open a Pandora&rsquo;s box of environmental crises, including large-scale deforestation, habitat fragmentation, wildlife poaching, water pollution and greenhouse gas emissions.

China&rsquo;s pursuit of natural resources is also escalating across Latin America. In the Amazon, for example, big mining projects &ndash; many of which are feeding Chinese industries &ndash; don&rsquo;t just cause serious local degradation, but also promote widespread deforestation from the networks of roads bulldosed into remote areas to access the mines.

<a href="http://www.wionews.com/world/the-first-ladies-of-conservation-how-the-black-mambas-are-protecting-wildlife-in-south-africa-13178">Also read: How women are protecting wildlife in South Africa</a>

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Overall, China is the most aggressive consumer of minerals on the planet and the biggest driver of tropical deforestation.

Beyond this, China is pushing to build a 5,000km railroad across South America, to make it cheaper for China to import timber, minerals, soy and other natural resources from ports along South America&rsquo;s Pacific coast. If it proceeds, the number of critical ecosystems that would be impacted by this project is staggering.

A World Bank study of more than 3,000 overseas projects funded or operated by China revealed how it often treats poor nations as &ldquo;pollution havens&rdquo; &ndash; transferring its own environmental degradation to developing nations that are desperate for foreign investment.

Finally, much has been made of the fact that China is beginning to temper its appetite for domestic fossil-fuelled energy. It is now a leading investor in solar and wind energy, and recently delayed construction of more than 150 coal-fired electricity plants in China.

These are unquestionably pluses, but they need to be seen in their broad context. In terms of greenhouse-gas emissions, China has exploded past every other nation. It now produces more than twice the carbon emissions of the United States, the second-biggest polluter, following the greatest building spree of coal, nuclear, and large-scale hydro projects in human history.

Despite its new post-Trump role as the world&rsquo;s de facto climate leader, China&rsquo;s overall agenda could scarcely be described as green.

<figure class="align-center zoomable">
<figcaption>
Iceberg ahead

Some would say it&rsquo;s unfair to criticise China like this. They would argue that China is merely following a well-trodden path of exploitative development previously forged by other nations and colonial powers.

But China is not the same as any other nation. The astounding growth and size of its economy, its dangerously single-minded vision for exploiting natural resources and land internationally, its intolerance of internal and external criticism, and its increasingly closed media and official myopia all combine to make it unique.

President Xi admits that many Chinese corporations, investors and lenders operating overseas have often acted aggressively and even illegally. But he says his government is powerless to do much about it. The most notable government response to date is a series of &ldquo;green papers&rdquo; containing guidelines that sound good in theory but are almost universally ignored by Chinese interests overseas.

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Indigenous forest people in the Congo Basin become increasingly poor and marginalised as foreign miners, loggers and poachers invade their lands. (Others)
</div>
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Are Xi&rsquo;s assertions of powerlessness believable? He increasingly rules China with an iron hand. Is it really impossible for China to guide and control its overseas industries, or are they simply so profitable that the government doesn&rsquo;t want to?

Of course, China&rsquo;s huge international ambitions will have some positive effects, and could even be economically transformative for certain nations. But many other elements will benefit China while profoundly damaging our planet.
</figcaption>
</figure>

This article was originally published on <a href="http://theconversation.com" rel="nofollow" target="blank">The Conversation</a>. Read the <a href="https://theconversation.com/chinas-growing-footprint-on-the-globe-threatens-to-trample-the-natural-world-88312" rel="nofollow" target="blank">original article</a>.

(Disclaimer: The author writes here in a personal capacity).

Image Credit:&nbsp;Bill Laurance and&nbsp;Mahmoud

Chinese investment is driving an unprecedented investment boom in global infrastructure. But despite its claims to be pursuing green development, China's building bonanza is harming the planet

Many observers of China’s escalating global program of foreign investment and infrastructure development are crossing their fingers and hoping for the best. In an ideal world, China’s unbridled ambitions will improve economic growth, food security and social development in many poor nations, as well as enrich itself. Such hopes are certainly timely, given the isolationism of the US Trump administration, which has created an international leadership vacuum that China is eager to fill. But a close look reveals that China’s international agenda is far more exploitative than many realise, especially for the global environment. And the Chinese leadership’s claims to be embracing “green development” are in many cases more propaganda than fact. To help steer through the maze, I provide here a snapshot of China’s present environmental impacts. Are China’s assertions reasoned and defensible, or something else altogether? Predatory force? For a start, China is overwhelmingly the world’s biggest consumer of illegally poached wildlife and wildlife products. From rhino horn to pangolins, to shark fins, to a menagerie of wild bird species, Chinese consumption drives much of the global trade in wildlife exploitation and smuggling. Over the past 15 years, China’s rapacious appetite for ivory has largely driven a global collapse of elephant populations. In response to growing international criticism, China promised to shut down its domestic ivory trade by the end of 2017. The author examining a Forest Elephant gunned down by ivory poachers in central Africa. (Others) × But even before China’s ban has taken full force, a black market for ivory is developing in neighbouring Laos. There, Chinese entrepreneurs are churning out great quantities of carved ivory products, specifically designed for Chinese tastes and openly sold to Chinese visitors. China is also the world’s biggest importer of illegal timber, a trade that imperils forests while defrauding developing nations of billions of dollars each year in timber royalties. China claims to be working to reduce its illegal timber imports, but its efforts are half-hearted at best, judging by the amount of illegal timber still flowing across its border with Myanmar. Also read: Terrorism, fashion and Illegal animal trafficking Infrastructure tsunami More damaging still are China’s plans for infrastructure expansion that will irreparably degrade much of the natural world. China’s One Belt One Road initiative alone will carve massive arrays of new roads, railroads, ports, and extractive industries such as mining, logging, and oil and gas projects into at least 70 nations across Asia, Europe, and Africa. Chinese President Xi Jinping promises that the Belt and Road initiative will be “green, low-carbon, circular and sustainable”, but such a claim is profoundly divorced from reality. As my colleagues and I recently argued in Science and Current Biology, the modern infrastructure tsunami that is largely being driven by China will open a Pandora’s box of environmental crises, including large-scale deforestation, habitat fragmentation, wildlife poaching, water pollution and greenhouse gas emissions. China’s pursuit of natural resources is also escalating across Latin America. In the Amazon, for example, big mining projects – many of which are feeding Chinese industries – don’t just cause serious local degradation, but also promote widespread deforestation from the networks of roads bulldosed into remote areas to access the mines. Also read: How women are protecting wildlife in South Africa × Overall, China is the most aggressive consumer of minerals on the planet and the biggest driver of tropical deforestation. Beyond this, China is pushing to build a 5,000km railroad across South America, to make it cheaper for China to import timber, minerals, soy and other natural resources from ports along South America’s Pacific coast. If it proceeds, the number of critical ecosystems that would be impacted by this project is staggering. A World Bank study of more than 3,000 overseas projects funded or operated by China revealed how it often treats poor nations as “pollution havens” – transferring its own environmental degradation to developing nations that are desperate for foreign investment. Finally, much has been made of the fact that China is beginning to temper its appetite for domestic fossil-fuelled energy. It is now a leading investor in solar and wind energy, and recently delayed construction of more than 150 coal-fired electricity plants in China. These are unquestionably pluses, but they need to be seen in their broad context. In terms of greenhouse-gas emissions, China has exploded past every other nation. It now produces more than twice the carbon emissions of the United States, the second-biggest polluter, following the greatest building spree of coal, nuclear, and large-scale hydro projects in human history. Despite its new post-Trump role as the world’s de facto climate leader, China’s overall agenda could scarcely be described as green. Iceberg ahead Some would say it’s unfair to criticise China like this. They would argue that China is merely following a well-trodden path of exploitative development previously forged by other nations and colonial powers. But China is not the same as any other nation. The astounding growth and size of its economy, its dangerously single-minded vision for exploiting natural resources and land internationally, its intolerance of internal and external criticism, and its increasingly closed media and official myopia all combine to make it unique. President Xi admits that many Chinese corporations, investors and lenders operating overseas have often acted aggressively and even illegally. But he says his government is powerless to do much about it. The most notable government response to date is a series of “green papers” containing guidelines that sound good in theory but are almost universally ignored by Chinese interests overseas. Indigenous forest people in the Congo Basin become increasingly poor and marginalised as foreign miners, loggers and poachers invade their lands. (Others) × Are Xi’s assertions of powerlessness believable? He increasingly rules China with an iron hand. Is it really impossible for China to guide and control its overseas industries, or are they simply so profitable that the government doesn’t want to? Of course, China’s huge international ambitions will have some positive effects, and could even be economically transformative for certain nations. But many other elements will benefit China while profoundly damaging our planet. This article was originally published on The Conversation. Read the original article. (Disclaimer: The author writes here in a personal capacity). Image Credit: Bill Laurance and Mahmoud

Opinion: China's growth is harming the planet

The China-led Asian Infrastructure Investment Bank (AIIB) will be different from institutions like the World Bank because it has a greater understanding of the developing world&#39;s needs, officials said on Sunday at its first annual meeting. 
 
Chinese President Xi Jinping proposed the bank two years ago and it began operations in January, with 57 founding member countries and $100 billion in committed capital, which it plans to invest in projects across the region. 
 
The AIIB, which intends to invest $1.2 billion this year, has said it is aiming to meet international standards of governance, though some members say there is still work to be done. 
 
Speaking on the final day of the bank&#39;s inaugural annual meeting, Chinese Finance Minister Lou Jiwei said the AIIB needed to establish its niche. 
 
&quot;The AIIB needs to establish its comparative advantage relative to existing multilateral development banks like the World Bank,&quot; Lou said. 
 
&quot;Compared with the Asian Development Bank, World Bank and other multilateral development banks, the AIIB&#39;s advantage lies in its keener understanding of the successful experience and lessons of developing countries&#39; years of development.&quot; 
 
The AIIB&#39;s board approved its first four deals worth $509 million on Friday, with three projects co-financed with the World Bank, the Asian Development Bank, the United Kingdom Department for International Development and the European Bank for reconstruction and development. 
 
The co-financed projects are a slum renovation in Indonesia and highway construction in Pakistan and Tajikistan. A power grid upgrade project in Bangladesh will be solely AIIB financed. 
 
AIIB President Jin Liqun said it was the focus on infrastructure that specifically marked out the bank as different and that they were committed to the concept of international best practice. 
 
&quot;The question is, how do you define international best practice? I will not agree to anything which could be considered international best practice unless this kind best practice incorporates the development experience of China and many countries in Asia and elsewhere over the last three or four decades,&quot; Jin said. 
 
&quot;So our bank would like to have the development experience, the so-called international best practice, reflecting the experience of China, India (and) so many countries in Asia. So we should have a different model of development.&quot; 
 
The AIIB is also looking to expand its numbers this year and will take applications for new members through the end of September. 
 
(Reuters)

The Asian Infrastructure Investment Bank's board approved its first four deals worth $509 million for reconstruction and development

The China-led Asian Infrastructure Investment Bank (AIIB) will be different from institutions like the World Bank because it has a greater understanding of the developing world's needs, officials said on Sunday at its first annual meeting. Chinese President Xi Jinping proposed the bank two years ago and it began operations in January, with 57 founding member countries and $100 billion in committed capital, which it plans to invest in projects across the region. The AIIB, which intends to invest $1.2 billion this year, has said it is aiming to meet international standards of governance, though some members say there is still work to be done. Speaking on the final day of the bank's inaugural annual meeting, Chinese Finance Minister Lou Jiwei said the AIIB needed to establish its niche. "The AIIB needs to establish its comparative advantage relative to existing multilateral development banks like the World Bank," Lou said. "Compared with the Asian Development Bank, World Bank and other multilateral development banks, the AIIB's advantage lies in its keener understanding of the successful experience and lessons of developing countries' years of development." The AIIB's board approved its first four deals worth $509 million on Friday, with three projects co-financed with the World Bank, the Asian Development Bank, the United Kingdom Department for International Development and the European Bank for reconstruction and development. The co-financed projects are a slum renovation in Indonesia and highway construction in Pakistan and Tajikistan. A power grid upgrade project in Bangladesh will be solely AIIB financed. AIIB President Jin Liqun said it was the focus on infrastructure that specifically marked out the bank as different and that they were committed to the concept of international best practice. "The question is, how do you define international best practice? I will not agree to anything which could be considered international best practice unless this kind best practice incorporates the development experience of China and many countries in Asia and elsewhere over the last three or four decades," Jin said. "So our bank would like to have the development experience, the so-called international best practice, reflecting the experience of China, India (and) so many countries in Asia. So we should have a different model of development." The AIIB is also looking to expand its numbers this year and will take applications for new members through the end of September. (Reuters)

China praises AIIB's greater understanding of developing world

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