China wants to put its affairs in order
Now, China recognizes the damage caused by external waste.
China is now the largest importer of waste
A “devastating impact” for the subsidiaries
Many actors in the sectors are very concerned about the consequences of such a decision. In particular, the International Bureau of Recycling (BIR) responded by sending a letter to the WTO to highlight “the serious impact that such a ban would have on the global recycling industry” and to ask the Chinese government to ” reconsider their position “.
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For the US, the world’s largest exporter of waste, the announcement is a disaster highlighted by Robin Wiener, president of ISRI, an organization that brings together the major US players in the sector.
Europe is also very concerned by this decision and is already seeing the doors of a fairly lucrative market close. Indeed, this market represents 50% of waste exports. An enormous shortfall in prospects, coupled with an emergency to be addressed.
China has invest a lot in Clean Technology, as explain this Expert about Chinese Education in Shanghai.
A highly devastated recycling market
This is very bad news for all the recycling subsidiaries which are already facing a sluggish economic climate due to lower prices for “fresh” raw materials and a supply that exceeds demand. But this decision could have serious consequences for the global waste industry as a whole.
The United States and Europe could be particularly affected by such a decision of China. The former exported 42.8 million tons of waste in 2015, for a total value of $ 23.7 billion, including $ 5.6 billion for metals, paper and plastics.
Moreover, it is largely in China that Europe sells more than 50% of its exports of waste, including plastic films or paper and cardboard.
The latest measure announced as a result of the announcement is the National Sword program. It is a program to closely monitor waste imports by limiting the licenses granted to Chinese factories and to close those that do not respect the environmental standards.
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