The issue with burning things is the pollution it can cause if not filtered properly before emissions released into the air. CO2 feeds plants to grow, which in turn provides more food and habitat for more life.
An incongruence in the West vs. the East's strategy is that we in the West have avoided nuclear - which generates zero CO2 - whereas the East's CO2 production (via building new coal power plants weekly) - has been skyrocketing:
https://ourworldindata.org/grapher/annual-co2-emissions-per-...
In this scenario with China doing the opposite to the rest of the world, there are exactly zero gains for CO2 reduction - far outweighed by the increase in CO2 production. And in this scenario as well the "polluter" or generator of the most CO2 is being rewarded for their behaviour by producing the cheapest energy possible, which allows their cost of production to be lower than the West, which allows their profits to be higher - for us to buy cheaper products to not only perpetuate but accelerate these current conditions.