Shipping GHG deal ‘a framework to build upon’

The world is deglobalizing—slowly, awkwardly, like a drunk trying to reverse a freight train. Countries are now scrambling to rebuild the basic guts of their own economies, while China takes the express lane into economic hell. That endless conveyor belt of goods from China to the rest of the world? Less urgent by the day. Add to that the rising cost of shipping, thanks to growing chaos around the Arabian Sea—because nothing says “efficient logistics” like dodging missiles and paying triple for insurance—and global shipping starts to look like a bad investment. Now cue the bright idea of slapping a new carbon trading scheme on top, just to really twist the knife. How exactly is that supposed to help shipping? And who’s going to enforce it if the U.S. decides it’s not their problem? 

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