Yes, China is a remarkable growth story. But it is also fast becoming an ecological wasteland, home to world-class smog, acid rain, polluted rivers and lakes, and deforestation. Environmental problems play a role in the death of some 300,000 Chinese people each year, according to World Bank estimates.China's torrid growth statistics—the mainland clocked 10%-plus growth in the first quarter—also mask the huge economic costs of this evolving environmental crisis. On June 5, China's State Environmental Protection Administration (SEPA) issued a report that the mainland's pollution scourge costs the country roughly $200 billion a year, or some 10% in gross domestic product, from lost work productivity, health problems, and government outlays. That is a staggering admission.
Check out the rest of the Business Week article here.
Shades of East Germany.
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