As China moves towards net zero emissions, is the world ready for the economic impact?

Xi Jinping's pledge last year for China to hit peak carbon dioxide emissions before 2030 and achieve carbon neutrality before 2060 was received with a mix of euphoria and scepticism outside China. As China accounts for 28 per cent of global emissions, its commitment to carbon neutrality is a much-anticipated step towards net zero emissions worldwide. The acceleration in the construction of coal-fired power plants in the past year and the lack of a robust road map towards China's decarbonisation in the most recent 14th five-year plan, however, raise questions about whether China will be able to meet its commitment….