What is the fastest growing emerging market?

Dear Friend,

Like many people, I thought the answer was China or maybe Vietnam. Interestingly, it’s a country south of our border – Colombia. Colombia’s economy is growing 6.8% annually. This growth is being driven by the most addictive substance on earth – not coffee or drugs, but oil.

Colombia’s economy is not the only one in overdrive. Over fifty other emerging countries have economies that are growing faster than the European average. This is what is causing the extraordinary demand for oil that is keeping prices above $115 dollars a barrel and fueling global warming. When I spoke at the Google headquarters in Beijing last year, a study released that same week showed that merely living in Beijing was the equivalent of smoking 52 cigarettes per day. That’s a two-and-a-half pack a day habit for every man, woman and child.

Fortunately, there are leaders in China who are stepping up to tackle this pressing issue. On a recent trip to Beijing and Dubai, I met with Chinese Deputy State Environmental Protection Agency Minister Pan Yue. Minister Pan is raising awareness both domestically and globally of the environmental dangers of rapid economic growth. Because of his leadership, China recently increased fines for pollution, reduced fuel subsidies and eliminated tax breaks for heavy industry.

As emerging economies work to address their environmental problems, we must continue our tradition of environmental leadership here in California. The California Air Resources Board recently took a dangerous step backwards by reducing the number of zero-emission vehicles that must be marketed in California by 70%. Thirty years ago, we set the standard for the nation and the world by requiring catalytic converters. Just two years ago we passed a historic greenhouse gas reduction bill. Now, as we explore ways to reduce our carbon footprint, we should provide incentives for consumers who buy the most fuel-efficient vehicles, rather than give a free pass to automakers who fail to live up to their environmental responsibilities.

Speaking of leaders, I recently visited one of the greatest success stories in one of Los Angeles’s most economically depressed areas. Inner-City Artswas founded in 1989 to provide arts education for children living in and around the skid row area after it was eliminated in the public schools. By providing outstanding instruction and creative outlets for students, Inner-City Arts allows them to develop skills they didn’t know they had and improve their academic performance. Only if we can reduce our national dropout rate by at least a third will California be competitive in the global economy. I had a great time playing the xylophone and watching as the kids saw a new world of opportunity and self-expression.

Finally, I want to congratulate two of America’s great leaders. On June 3rd, Barack Obama clinched the Democratic nomination for president after a hardfought campaign. Both Senator Obama and Senator Clinton deserve enormous credit for bringing millions of voters to the polls, sending a strong message to minorities and women that they can be elected to our nation’s highest office, and ultimately strengthening our democracy. I congratulate Senator Clinton on a tremendous campaign, and I look forward to working with her to make sure Senator Obama becomes the next President of the United States.

Whether it is solving our environmental challenges, improving educational opportunities for low-income students, or winning the Democratic nomination for president, this country needs new leaders to step up. I hope Senator Obama will inspire a new generation of leaders, in the United States and abroad, to do just that.

Sincerely,

Steve Westly