China and France Sign Global Warming Agreement

China and France have signed their first bilateral agreement on climate change. According to Deutsche Presse-Agentur, the contract is part of France and China’s $26.6 billion deal to exchange information and technology related to nuclear energy, aviation, space exploration and railways.

French President, Nicolas Sarkozy welcomed the lucrative agreements but also warned of the environmental costs of China's rapid economic growth. The treaty, and Sarkozy’s caution, comes immediately before Wednesday’s EU-China summit, which is expected to focus on Europe’s trade deficit to China and the undervalued Chinese yuan.

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