Fang, Du; Feng, Hongli; Otto, Daniel

September 2009

The Waxman-Markey Bill (HR2454 American Clean Energy and Security Act of 2009) reflects the goal of the Obama administration to address climate change issues. The global nature of Green House Gas (GHG) emissions and the mitigation efforts imply a multi-lateral approach to the issue. This paper discusses the policy strategies currently being considered by two major participants in the GHG reduction debate, the U.S. and China.

JEL Classification: Q50