ANALYSIS OF CIRCULAR ECONOMY IN CHINA

Abstract

A circular economy is an extremely efficient manner of utilizing the resources that are available to a nation. In this method, the nation utilizes the resources that are available to it in a manner which ensures the minimization of waste, and the reuse of materials in the best manner possible. This is distinct from the ways in which resources are utilized in traditional economies, which follow a process of resource utilization in a linear method wherein the resource is used to manufacture the product; after which the said product is used; and where the product, in the ultimate analysis, is disposed off. This process is wasteful, and is bad from an environmental perspective. It is to counter this problem that nations have started utilizing circular economy-oriented methods, and focusing on the development of renewable technologies in recent decades (Skene et al, 2015).