Read the following key article

Main Article: (i) "The death of US-China climate cooperation"https://www.eastasiaforum.org/2023/01/14/the-death-of-us-china-climate-cooperation/Additional Article: (ii) "Rebuilding US-Chinese cooperation on climate change: The science and technology opportunity"https://www.brookings.edu/blog/planetpolicy/2021/10/28/rebuilding-us-chinese-cooperation-on-climate-change-the-science-and-technology-opportunity/ Task:Your game theory tasks for Part 1 are as follows:Represent this climate change game using the information below:

• There are two players - US and China who have participated in the Paris Agreement.Both US and China, at the time of signing this agreement, made joint announcements of strengthening bilateral cooperation in combating global climate change with some specific targets. (For background knowledge read the Paris Agreement information link provided in the context above).
• Assume the self- interested players continue behaving in a way as described in the article (i) "The death of US-China climate cooperation" over the next two years.
• There are two possible strategies - Cooperate and Not-cooperate.
• This is a one-shot simultaneously played game, where the players are taking actions at the same time.

STEPS:

2. Construct a payoff matrix and work out the associated numerical (hypothetical) payoffs for each quadrant in the game. (5 marks)
4. Explain each quadrant of the matrix. (3 marks)
6. Predict and explain the likely outcome(s) of this game. Use the relevant game theory concepts (learnt in this unit) and the information given in the articles while explaining the possible outcomes in your answer. (4 marks)
8. Explain with reasons whether the predicted outcome will be an optimal or a sub optimal outcome for the world including the two participant nations. Are there any opportunities lost for the two players/nations? Briefly explain the likely implications of your predicted outcome on the players' specific targets with reference to the climate change. (6 marks)