AP Photo

Since the Copenhagen climate summit's failure, many politicians and pundits have pointed the finger at China's leaders for blocking a binding, global carbon-mitigation treaty. But the Chinese government's resistance was both understandable and inevitable. Rather than mustering indignation, decision-makers would do well to use this as a wakeup call: it is time to consider a smarter climate policy. China is unwilling to do anything that might curtail the economic growth that has enabled millions of Chinese to clamber out of poverty. This development can be seen in the ever-expanding Chinese domestic market. In the next six months, one-quarter of young Chinese consumers intend to buy new cars "� the main source of urban air pollution "� up an astonishing 65 percent from a year...