By Noah Buhayar (original source Bloomberg)
“Former U.S. Treasury Secretary Henry Paulson said China’s leaders are serious about tackling environmental problems yet could be overwhelmed as hundreds of millions more people flock to cities in coming decades.
China’s leaders “care about climate change and they understand it and are seriously working on it — that’s the good news,” Paulson said Thursday during an event in Seattle. “The bad news is they’ve taken all kinds of actions, but they’ve been blown away by the explosive, breakneck growth.”
Paulson has been traveling the globe to promote his latest book, “Dealing With China: An Insider Unmasks the New Economic Superpower.” He has said Asia’s largest economy is “running out of steam” and risks a “day of reckoning” if leaders don’t adopt a new model for municipal finances.”
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