From day before yesterday's WSJ Morning Brief (I'm only two days behind!):
Chinese government action on the environment is beginning to catch up with its rhetoric. While the country's environmental controls have long been criticized as ineffective and ignored at the local level, they are "starting to have real economic bite," The Wall Street Journal reports. "This year, officials have rejected billions of dollars of new factories and other investment projects for failing to meet standards. For local companies accustomed to ignoring standards, this could change the financial calculus," the Journal says.
