You say SP can only be implemented when all nations have adopted it. But wouldn that mean that governments could use SP as an excuse to delay implementing necessary environmental legislation?
Not at all – in fact the contrary is more likely to be the case because what SP permits is a sorting out of two fundamentally different types of policy. Firstly, there are those policies which, if implemented unilaterally by a single nation or a group of nations, would generally be likely to have a POSITIVE impact on that nation’s competitiveness. These are clearly policies which CAN be implemented unilaterally and they would therefore NOT form part of SP in any case. So nations contemplating such policies will clearly want to implement them as soon as possible. After all, if they didn’t, they’d LOSE their competitive advantage! Secondly, there are those policies which, if implemented unilaterally by a single nation or a group of nations, would generally be likely to have a NEGATIVE impact on competitiveness, employment, capital markets, etc. These policies can ONLY be implemented by all (or virtually all) nations simultaneously and would consequently be included in SP. This distinctio
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