Circular Economy in China: Towards the Progress

Mohajan, Haradhan (2021): Circular Economy in China: Towards the Progress. Published in: International Journal of Economics and Business Administration , Vol. 7, No. 3 (20 August 2021): pp. 89-96.

Abstract

At present all nations are thinking about the circular economy (CE) in production, circulation, and consumption due to environment pollution and resource scarcity. But implementation of CE policy is yet in its infancy. The CE in the form of waste management policy that is achieved in selected developed countries of the world. China is a developing country in the East Asia. The economy of China has grown with an average 10% per annum during the last 30 years that contributes important impacts on the world economy. At the last quarter of the 20th century and beginning of the first quarter of the 21st century China becomes the largest energy user in the world, as the country rapidly becomes the largest exporter in the world. To produce essential commodities according to the global demand the country mainly depends on coal and fossil fuel to create electricity, consequently it emits maximum CO2. Recently, China has faced various harmful odd situations, such as environmental degradation, human health and social problems due to huge population, and source scarcity for the huge production, rapid continuous unplanned urbanization, and growing economy. Thinking for future sustainable economy and human welfare of the country, China is attracted by the CE. The country has taken various attempts to implement CE at the three levels at a time, namely micro, meso and macro levels.

• Item Type: MPRA Paper
• Language: English
• Keywords: 3R Principle, China, Circular Economy, Economic Sustainability, Environmental Problems
• Subjects: D - Microeconomics > D6 - Welfare Economics > D62 - Externalities; I - Health, Education, and Welfare > I3 - Welfare, Well-Being, and Poverty; I - Health, Education, and Welfare > I3 - Welfare, Well-Being, and Poverty > I31 - General Welfare, Well-Being; O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development

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