Actually Ass Hat I have a life and have more to do then post on political web sites. China under the Kyoto protocol is an AnnexII nation. That is they are a poor and developing nation. Under Kyoto they do not have the obligations of an Annex1 developed nation. But under Kyoto a nations status from Annex1 to Annex2 can be changed to "transitional" as in the case of the formver Soviet Republics and East European nations and to Annex1.
Annex2 nations, under Kyoto do not have GHG emission reduction standards to meet. They do have obligations to monitor and report their GHG emmisions and, this is critical to Kyoto. They are also required to implement GHG emmison reduction projects. When succesful projects are implemented by Annex2 nations they are awarded CEC (Carbon Emmision Credits) that they can sell at low cost to Annex1 nations to use towards future sustainable development of their developing economies. No GHG reduction projects, no investment money from CEC's. It's the old carrot and the stick approach.
The whole purpose for this is not to punish Annex1 nations but to help advance the economies of Annex2 nations who, otherwise, would have not interest in sharing in the GHG reduction responsibilites and to encourage them to implement sustainable development practices that now become economically possible for Annex two nations due to the investment flow froms the sale of CEC's to Annex1 nations. Can this be costly to Annex1 nations. It sure can, but we share an interest in Annex2 nations develop high envrionmental standards and efficient, low GHG emmitiong industries as us developed nations.
In short China and other developing signatories have tied in their own future economic development into sustainable practices, with their Annex1 trading partners through the trade of CEC's.
So to state the China is "Off the Hook" just simply shows a misunderstanding of how the intent, incentives, motivations and mecanics of Kyoto works. The whole philosophy is to create a supply and demand economic incentive, through the sale of CEC's to reduce, globally, their emmissions.
Is it an ideal system? Probably not. Does it cost more for developed nations than non-developed. Of course it does, we have the money. Is it workable? Yes, it probably is.