[NaomiLehman]

I think the answer is China (CO2 emissions). But the longer answer is that they are mainly making stuff for the US and the EU.

> While China emits over one-third of global CO2, it is also the world’s factory, producing more than one-third of global manufactured goods (IEA, 2024a; Norton, 2024) . Research indicates that China remains the world’s largest generator of embodied trade carbon emissions. The gap between emissions embodied in China’s exports and those in its imports widened from 0.7 GtCO2 in 1990 to 1.8 GtCO2 in 2019 (CGTN, 2024) . According to the Global Carbon Budget, China’s 2021 consumption-based CO2 emissions are about 10% (or 1.2 GtCO2) lower than the territorial emissions (Friedlingstein et al., 2025).

- https://climateactiontracker.org/countries/china/