“Trillions of dollars of market value could go up in smoke due to climate change.
“The damage hits the global economy in multiple ways. The first is the most obvious. Physical damage from more powerful natural disasters is on the rise. 2017 and 2018 were the costliest back-to-back years for economic losses related to natural disasters, according to risk and reinsurance firm Aon.
“But the danger grows worse when the physical damage starts to reprice portions of entire asset classes.”
“In the land of rising household debt, Canadians have one more thing to worry about.
“Delinquency rates are moving higher as the cost of living increases and servicing debt takes a bigger share of disposable income, according to TransUnion Canada.”
“The productivity of American workers in the third quarter fell a bit less than previously reported, but it still marked the first contraction of productivity in almost four years.
“Nonfarm business sector labor productivity, a measure of economic output for each hour worked, fell 0.2 percent in the third quarter…”
http://www.xinhuanet.com/english/2019-12/11/c_138621473.htm
“Argentina is willing but unable to pay its debts under current conditions and needs the economy to grow again before meeting its obligations, President Alberto Fernandez said in his first speech after being sworn in.
“The government will seek “constructive and cooperative” dialogue with the International Monetary Fund and bondholders to address the debt load.”
“An economic downturn with ballooning inflation and a lack of investment in low income districts [Haiti] has… helped boost crime, turning them into no-go areas.
“The situation – which diplomats fear represents a growing threat to regional stability that could have knock-on effects on migration and drugs and weapons trafficking – is causing alarm in international circles.”
https://www.voanews.com/americas/haitian-slums-descend-anarchy-crisis-sparks-worst-violence-years
“High household debt levels and high property prices pose significant risk to Norway’s financial stability, the country’s bank regulator said in a report on Tuesday…
““The debt burden, measured by the ratio of debt to disposable income, has reached a historically high level and is higher than in the majority of other countries.””
“Boris Johnson and Jeremy Corbyn are to embark on a final frantic 24 hours of campaigning as both teams insist the UK election remains closely fought and that polls giving the Conservatives a lead could be wrong.
“Both Labour and the Conservatives have branded Thursday’s vote the “most important in a generation” as the two sides have vastly different plans for Brexit and spending on public services.”
“France is experiencing another day of disruption and protests over major changes to the pension system planned by the government.
“Mass union-called demonstrations have been held on Tuesday – the sixth straight day of action. Public transport in Paris has been badly affected and workers have also blockaded several oil refineries.”
https://www.bbc.co.uk/news/world-europe-50726952
“The years of economic upturn in Germany appear to be over for the time being. Downturn is the word of the moment as international trade conflicts, a slowdown in world trade, and the Brexit cliffhanger all impact Germany’s economy.
“These global conflicts are striking particularly hard at Germany’s export-oriented industry.”
https://www.thelocal.de/20191210/between-fear-and-hope-german-economy-survives-lull
“Protesters have been out in force ahead of Algeria’s presidential election on Thursday, arguing it offers no real choice to the public.
“In the wake of months of demonstrations, two former prime ministers and other senior political figures were jailed for corruption, in an apparent attempt to calm protests.”
https://www.euronews.com/2019/12/10/protesters-out-in-force-ahead-of-algeria-s-presidential-election
“Protesters in Tripoli, Lebanon took to the streets outside leading the home of Sunni Muslim politician, Saad al-Hariri, after he re-emerged as a candidate for prime minister.
“The clashes come amid the country’s worst economic crisis since the 1975-90 civil war…”
“Iraq‘s south saw further protests and explosions, as demonstrations against the government and its Iranian sponsor that erupted on October 1 persist unabated, according to security sources.
“The southern city of Amara was rocked overnight by four near-simultaneous explosions targeting premises of two pro-Iran armed factions, according to police.”
“[In India] Consumption demand has fallen as disposable incomes have shrunk due to low growth.
“The sales of domestic vehicles declined across all categories in India by 12.05% in November compared to last year’s figures. “
https://www.dnaindia.com/business/report-automobile-sales-decline-by-12-in-november-siam-2805098
“India‘s power demand fell 4.3% in November from a year ago, representing the fourth straight month of decline, government data showed, potentially reflecting a worsening industrial slowdown which has stifled overall economic growth.”
Coal’s use for power in India is set to shrink for the first time in at least 14 years as demand slows… Coal generation fell for a fourth month in November, the longest such streak in government data going back to 2005. That echoes a decline in consumption…”
“China‘s new energy vehicle output fell 36.9% year on year to 110,000 units on November, continuing year-on-year declines posted each month since July…
“The country’s NEV sales fell 43.7% on year to 95,000 units in November…”
“Global TV advertising sales fell almost 4 per cent in 2019, the steepest drop since the depths of the economic recession in 2009…”
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