Stimulus projects must meet green standards

China's 4 trillion yuan stimulus package is a much-needed shot of vitality for a tired world economy. Commentators and markets are busy dissecting the package to see what's there, what's new, what's not, and what effect it will have on the current economic crisis. I want to add a note of cautious optimism, but also a note of worry and some suggestions.

Over the past 30 years of opening up and reform, China has moved from believing that pollution is an artifact of only capitalist systems to recognizing that environmental protection is one of the key services that government provides.

Throughout most of this period, the strategy has been "develop first, environment later". Unquestionably, the strategy has delivered some impressive growth rates, but also some considerable environmental damage.