Transcript of World Bank Group President Jim Yong Kim's Press Conference in Shanghai, September 15, 2013 (English)

China is now the largest contributor to global greenhouse gas emissions by volume. Its emissions are comparable to those of the countries of the European Union. But China is also becoming a bigger part of the solution in the fight against climate change...  See More + China is now the largest contributor to global greenhouse gas emissions by volume. Its emissions are comparable to those of the countries of the European Union. But China is also becoming a bigger part of the solution in the fight against climate change. China now leads the world in small hydroelectric power projects and in wind capacity which has doubled every year since 2005 and reached 61 gigawatts in 2012. Its renewable energy consumption between 1990 and 2010 was as high as all European countries combined. So our message is very strong to the emerging markets - think about those weaknesses and begin to move. The deepening of the financial markets is a key, but also things like improving the business environment and fiscal policy reforms so that public spending, public sector spending is made to be more efficient and more effective. Every single country has to now focus on making those kinds of reforms that it needs in order to grow jobs, especially for young people.  See Less -