[zozbot123]

Even in a developing country like India or China, a pollution tax would be an effective (and lucrative) defense against opportunistic "race to the bottom" behavior. There are plenty of emerging industries, even in manufacturing, that don't depend on polluting the environment for their viability.

[akimball]

And the ones that do need to pay the cost of their actions. Taxing pollution means society can control the incentive tipping point to optimize cost-benefit.