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If India and China want to continue to export to the US & Europe than we have lots of power to make them.

87% of Chinese emissions are attributable to domestic consumption. https://www.carbonbrief.org/mapped-worlds-largest-co2-import...

But without the 13% much of the 87% would disappear. Each dollar received from an export ends up getting spent 5 to 10 times internally.

...as opposed to Yuan, which is spent once and then immediately destroyed?