dimpy.handa
Dimpy Handa
The market will work better at a global level. Usually each country sets its own regulations and so things like pollution limits and vehicle fuel standards differ a lot. This will make it difficult and expensive for international business to follow lots of different regulations. And as regulating business raises its costs and can hit trade and economic growth, individual countries may choose to set weak standards (especially if they are developing countries). Market methods are more likely to work across borders, tying every country into the same international system, just as global trade and finance already do. Developing states are more likely to come on board with a market system, as they can profit from a carbon tax or from selling carbon permits.