Climate change trade-offs

. . . is the topic of my latest Trade Tripper column in this Friday-Saturday issue of BusinessWorld. Excerpts:

"Nevertheless, the probability that border tax measures will be implemented by developed countries against developing countries is considerable. The additional costs are simply too disconcerting to a lot of developed countries’ domestic industries. The American Petroleum Institute estimates that one in six US refineries would most likely shut down by 2020 because of such additional costs, with related transport industries increasing their own costs by an additional $178 billion annually."

"And wait for developed countries’ attempt to curb — due to climate change concerns — immigration from and job outsourcing to developing countries."

In relation to protectionism vis-a-vis migration, this article from The Economist is a worthwhile read.