China’s Belt and Road Initiative could undermine efforts to combat climate change as countries involved could account for over half of CO2 emissions by 2050, write Ma Jun and Simon Zadek.

China has changed its environmental law for the first time in 25 years, instituting public oversight of companies and allowing unlimited fines against persistent polluters.

MORGAN Stanley cut its forecast for global growth this year, citing an insufficient policy response to Europe’s sovereign debt crisis, weakened confidence and the prospect of fiscal tightening.