Sacrificing the environment

A quote from the current 'Economist's' report on China's quest for resources:

Pan Yue, a deputy minister at the State Environmental Protection Administration (SEPA), China's paramount environmental regulator, estimates the annual cost of environmental damage at 8-13% of GDP—much the same as the overall economic growth rate. If it continues like this, he expects levels of pollution to double over the next 15 years. A large black cloud (subscription)

There must be some subjectivity in Mr Pan's estimates, but even so, the comparison is alarming, and quite plausible.