I like much of what Thatcher stood for, however, we should never forget that during her (and Reagan's) financial Big Bang they sold off many public utilities to their mates in Walls St and London, probably for pennies, and their deregulations set the stage for derivatives to go ballistic. To the point that they are now a systemic risk.
Many geo engineering ideas are not at all out of the reach of a nation state. I would guess China will just enact one of the hypothetical interventions one day, maybe 20 years from now when changing climates start causing serious social and political upheaval. I think of it like fiat money or the boiling frog problem, not really a problem until suddenly it is. Also not really the type of problem humans are good at solving proactively. Insurance markets are the first canary in the coal mine IMO. First consequential negative externality.
Exactly correct and, furthermore, it's a no-lose situation for them.
>Climate cools — see, we're on the right track, let's do more.
>Climate warms — see, we need to do more.