China will beat US to cap-and-trade scheme says Bluenext

"I do see room for a cap-and-trade scheme in the US but China has been investing heavily. It has the money, the people and the resources, and it will do something," Chauvancy said.

Chauvancy's comments met with some disagreement from other members of the panel, with Patrick Birley, chief executive of European Climate Exchange, saying he expected the US would be first with China following soon after. However, he did say China is in a better position than the US as it has the political will to be