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We all know that China is industrializing at a growth rate of 8 to 10 percent per year. China is on track to pass the U.S. as the largest economy in the world in 20 to 25 years, and China is determined to give its people a chance at this high standard of living that we enjoy.

Contrary to what you might think, China's economy is relatively less efficient, and more polluting, than those of rich countries.

China leads the world in energy consumption, carbon emissions, and the release of major air and water pollutants, and the environmental impact is felt both regionally and globally.

The way China is looking to boost consumer spending is astounding. They are going to boost the minimum wage by 13 percent a year every year for five years... I don't know if people realize how dramatic that is.

Chinese emissions are a problem not just for its own people but also for the world. It has now overtaken the U.S. as the biggest carbon emitter; most of the coal that is burned anywhere on Earth is burned in China.

We need the Chinese to - you know, spend more, save less - consume more and not be so focused on exports. There are big changes we need in the world.

If China someday gains a more fair, just, and accountable system of government, it will be due to the hard work and efforts of the Chinese people, not due to the inexorable workings of any particular technology.

Until the Chinese decide to compete fairly it will be up to us to do what we can to further protect our manufacturing base, and ensure we keep the good paying jobs we already have.

Greening the globalised manufacturing and sourcing will be the single biggest help multinationals could make to the tough pollution control in China and other developing countries.