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Economy

Green lending -- a new growth model for Asia and beyond

China is no stranger to the perils of rapid economic development.

     According to research by the World Bank and the Chinese State Council's Development Research Center, health problems caused by air pollution cost China as much as $300 billion a year, or around 3% of the country's gross domestic product. Water pollution has become a major concern and the amount of solid waste is escalating every year. Meanwhile, rapid urbanization tends to support development, but it also reduces available farmland while a higher concentration of land ownership makes the poor more vulnerable.

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