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The NYTimes published an article on which steel plants make the most pollution and it looks like China is by far the worst. But this map doesn’t tell the whole story. Who is buying and using that steel from China? If a substantial portion of that steel is sold to the west then that pollution should really be attributed to the client countries, not the manufacturing countries (or at least show both maps).
Yeah, the fee (or license) for putting CO2 into the air would need to be universal for it to work, or as you say, the market will just seek out the freeloaders.
@jerlich
Just put a high price on carbon, and the market will seek out the cleanist sources.