China and Kyoto Protocol

Name:        CHAN, Sin Fong

Subject:     China and Kyoto Protocol

Visit Time: 13/12/2007 3:48 AM

Remark:

The segment on “China beefs up clean energy drive” was fascinating. I returned from The Silk Road tour recently, and agree wholeheartedly that the air pollution in many Chinese cities is totally unacceptable. In LanzZhou, the world’s most polluted city, blue sky and sunny day were non-existent.

On the positive note, I saw hundreds of wind turbines rising like white gum trees in various parts of the Gobi Desert. A tour guide also mentioned that some natural gas electricity plants had replaced the coal-fired plants.

In GuangZhou, motor cycles are banned in the city, partly to relieve the traffic jam, and partly to reduce the air pollution.

China has set itself very high targets in cleaning up the pollution. China knows the health of the 1.3 billion people will suffer if this is not done sooner - the health care cost will be enormous. If China’s economic growth continues at the present rate, it has the money to invest in its scientists to develop technology to clean up the mess.

China’s willingness to reduce the carbon emission is self-imposed. It makes no pledges to the world about its reduction targets, nor tells the world what to do. Actions are more important than just Kyoto Protocol.

The government’s commitment to the Kyoto Protocol may result in closure of coal mines and power stations, and loss of export income. The map of Victoria could be redrawn with coal mining towns turned into ghost towns.

An unhealthy income statement

Name:        CHAN, Sin Fong

Subject:     An Unhealthy Income Statement

Visit Time: 13/12/2007 2:48 AM

Remark:

Kevin Rudd is definitely a no-nonsense Prime Minister who keeps to his promises in rectifying the Kyoto Protocol, setting in motion to provide every Year 9 to Year 12 student a laptop computer, and expending $600 million to improve the hospital waiting list.

If he continues on at this pace, he will probably spend $2 billion to roll back the WorkChoices, if that was the amount claimed by Labor what Howard’s government had spent. He will also spend $42 billion for schools funding guarantee, $4 billion on high speed broadband network, $2 billion on health and hospitals reform, $1 billion to secure nation’s water supplies and desalination projects, $100 million for innovative manufacturing, and so on.

He will not forget to handout cheap travel for older Australians and provide a new 50% Education Tax Refund to help families of school-age children meet the costs of education. This Santa Clause will also help aspiring first home buyers save a larger deposit by establishing a new, low tax, First Home Saver Account.

If Australia is a listed public company with the Stock Exchange, I shall not be investing in it. Not a single pledge by Kevin Rudd involves in creating wealth for Australia. A healthy Income Statement (also known as Profit and Loss Statement or Statement of Financial Performance) requires more than just generous expenditure, but most importantly, income generation.

I sincerely hope that the income will be derived from company taxes in a rising economy rather than increased GST or income tax rates, which will badly affect the working families.