This is putting the cart before the horses. These wealthy countries haven’t even stopped burning fossil fuels. Let’s focus on that first.
But the way conversation is now we're headed straight towards ecofascism. A healthy globe for me but not for thee (as if this even makes much sense).
It's convenient for the US to blame "developing economies" (especially China) for the problem. Solutions like "buying off other countries" make sense. (And in itself is not a bad idea.) But it's a deflection from the bigger issue which is consumption at home.
But as long as we can make it a "them " problem, our population doesn't have to feel guilt, or understand they are the people who need to change.