Daily updates on climate change and the global economy.

Daily updates on climate change and the global economy.
Stay current with what’s happening around the world with a quick scan of top news.

Daily updates on climate change and the global economy.
Stay current with what’s happening around the world with a quick scan of top news.

Daily updates on climate change and the global economy.
Stay current with what’s happening around the world with a quick scan of top news.

Daily updates on climate change and the global economy.
Stay current with what’s happening around the world with a quick scan of top news.

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“United States intelligence agencies have warned that the country faces an “increasingly fragile world order”.

“The alarm was sent through the 2024 Annual Threat Assessment report issued on Monday. The document on worldwide threats to US national security cautions that China, Iran and Russia are challenging the current international rules-based order.”

https://www.aljazeera.com/news/2024/3/12/united-states-faces-increasingly-fragile-world-order-spy-chiefs-say


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“The navies of China, Iran and Russia have begun joint drills in the Gulf of Oman, their fifth common military exercise in recent years.

“The war games starting on Tuesday coincide with heightened tensions in the region as Israel’s war on Gaza rages for a sixth month and Yemen’s Houthi rebels have launched attacks on ships in the Red Sea in response.”

https://www.aljazeera.com/news/2024/3/12/china-iran-and-russia-stage-joint-naval-drills-in-gulf-of-oman


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“Sweden and Finland join Nato’s biggest military exercise in decades.

“There was a time when Nato would do its best to avoid direct mention of Russia when conducting its military manoeuvres. Not least for fear of provocation. But Russia’s full scale invasion of Ukraine has changed all that.”

https://www.bbc.co.uk/news/world-europe-68535762


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“Swedish PM says ready to fortify crucial Baltic island.

“Sweden is open to reinforcing defences on the Baltic Sea’s most crucial island, according to its prime minister, as the new Nato member explores with allies how best to repel a rapidly militarising Russia.”

https://www.ft.com/content/4d263668-87fc-44cc-846b-ff4f7c3e0414


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“Moldova delivers protest to Russia over voting stations in Transdniestria…

“The Russian ambassador Oleg Vasnetsov was summoned on Tuesday, the Foreign Ministry said on social media. The ministry previously agreed on one polling station in Moldova’s capital of Chisinau for elections slated to be held from Friday to Sunday, but Moscow instead was set to open six in breakaway Transdniestria.”

https://www.reuters.com/world/europe/moldova-delivers-protest-russia-over-voting-stations-transdniestria-2024-03-12/


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“The Impact of Russia-Ukraine geopolitical conflict on the air quality and toxicological properties of ambient PM2.5 in Milan, Italy [study]…

“DTT assay levels during the intra-RHD were 2.1 times higher… Our findings highlight the necessity for policies to mitigate the indirect health effects of increased biomass burning emissions due to the energy crisis triggered by the geopolitical conflict.”

https://www.nature.com/articles/s41598-024-55292-2


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“Russia’s response to asset seizure could trigger global financial collapse…

“While Brussels is searching for legal loopholes to send frozen Russian assets to Ukraine, it must keep some of the cash as a “safety buffer,” should its clearing house Euroclear get in trouble, potentially jeopardizing the entire global financial system, a senior EU official told Reuters.”

https://thepressunited.com/updates/russias-response-to-asset-seizure-could-trigger-global-financial-collapse-reuters/


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“The Global North And South’s Fight For LNG Energy Security Is Set To Intensify…

“Following the huge reduction in Russian pipelined gas to Europe following 24 February 2022’s invasion of Ukraine, liquefied natural gas (LNG) has become the swing emergency energy supply for many of the developed countries that comprise the Global North…”

https://oilprice.com/Energy/Natural-Gas/The-Global-North-And-Souths-Fight-For-LNG-Energy-Security-Is-Set-To-Intensify.html


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“Global South Stagnating under Heavier Debt Burden.

“Much higher interest rates – due to Western central banks – are suffocating developing nations, especially the poorest, causing prolonged debt distress and economic stagnation. US Fed-induced stagnation After the greatest US Fed-led surge in international interest rates in more than four decades…”

https://www.globalissues.org/news/2024/03/13/36220


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“The inflation rate in the US picked up in February, as prices for petrol and housing pushed higher…

“The monthly report comes during a critical presidential election year and as the US central bank, the Federal Reserve, is debating the next step in its fight to rein in prices.”

https://www.bbc.co.uk/news/business-68537965


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“The slowdown in productivity growth since the financial crisis has been “catastrophically bad” for the UK economy, according to a leading economist at the Office for Budget Responsibility…

“David Miles, a member of the Budget Responsibility Committee at the OBR, said: “15 years ago, people thought the level of GDP would be 30 per cent higher than it is today”.”

https://www.cityam.com/uk-economy-nearly-a-third-smaller-thanks-to-catastrophically-bad-productivity-slowdown/


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“UK faces ‘blackouts’ without new gas-fired power stations, ministers claim…

“The government has said that while it will continue to move forward with its net zero targets and a focus on renewables, gas was needed as a “back-up” – with Prime Minister Rishi Sunak saying climate goals must be reached “in a sustainable way that doesn’t leave people without energy on a cloudy, windless day”.”

https://news.sky.com/story/uk-should-build-new-gas-fired-power-capacity-to-use-as-backup-government-says-despite-green-targets-13092730


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“Three people arrested as red paint sprayed on Scottish Parliament in food insecurity protest.

“Red paint has been sprayed across the front of the Scottish Parliament as part of a protest against rising food insecurity… Climate campaign group This Is Rigged is calling on the Scottish government to implement a community food hub for every 500 households in Scotland.”

https://news.sky.com/story/three-people-arrested-as-red-paint-sprayed-on-scottish-parliament-in-food-insecurity-protest-13092627


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“The Domino Effect of the Global Real Estate Crisis – How China, the US, and Sweden are Topping the List…

“…in the wake of the global inflation crisis triggered by the war in Ukraine, central banks have significantly raised the extremely low interest rates that have been in place for a decade. This increases the cost of all credit-financed projects, particularly affecting real estate construction and purchases…”

https://www.msn.com/en-nz/money/other/the-domino-effect-of-the-global-real-estate-crisis-how-china-the-us-and-sweden-are-topping-the-list/ar-BB1jKYWi


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“China Vanke debt downgraded to ‘junk’ status by Moody’s as liquidity concerns mount amid tumbling property sales.

“The company’s continuing exposure to funding volatility, on top of its high refinancing needs, does not support an investment-grade rating, according to the ratings agency.”

https://www.scmp.com/business/article/3254997/china-vanke-debt-downgraded-junk-status-moodys-liquidity-concerns-mount-amid-tumbling-property-sales


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“Shipbuilding: the new battleground in the US-China trade war… Labour unions are urging the Biden administration to investigate China’s dominance of naval engineering…

“Not only does it have the potential to reignite the US-China trade conflict, but it will also increase the focus on China’s growing military might and the massive commercial shipping industry that underpins it.”

https://www.ft.com/content/4e2d5bb7-e4d5-4b98-b1a8-895c0d493b07


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“China Cracks Down on Tibetan Protest Against a Hydropower Project in Dege.

“…protesters wanted authorities to withdraw the order for thousands of Tibetans to relocate from Upper Wonto and Shipa villages and six important monasteries – including the Wonto monastery, which was built in the 13th century and has priceless murals dating from that period. The villages and monasteries are expected to be flooded…”

https://thediplomat.com/2024/03/china-cracks-down-on-tibetan-protest-against-a-hydropower-project-in-dege/


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“Why are people in India’s Ladakh protesting against central government?

“…The government’s decision to run the territory directly from New Delhi has raised concerns about the region’s democratic marginalisation, lack of say in developmental projects and militarisation of the ecologically sensitive Himalayan region.”

https://www.aljazeera.com/news/2024/3/11/why-are-people-in-indias-ladakh-protesting-against-central-government


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“Protests in India as Modi enforces migration laws that exclude Muslims.

“Indian prime minister Narendra Modi’s government has moved to implement a contentious citizenship law that has been criticised for being discriminatory against Muslims, four years after it was passed in parliament.”

https://www.independent.co.uk/asia/india/citizenship-law-muslims-protest-modi-b2511048.html


“US delegation leaves Saudi Arabia early over kippah row… A US delegation on religious freedom said on Monday it cut short its visit to Saudi Arabia after one of its members was asked to remove his Jewish head covering, or kippah.”

https://www.theguardian.com/world/2024/mar/11/us-delegation-saudi-arabia-kippah


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“Lebanese shrink Ramadan menu amid continuous rise in prices…

“”Shopping for Ramadan this year is very challenging as prices have gone up remarkably, and our family income shrank following the financial crisis and collapse of the Lebanese pound,” Ismail, an employee at a factory, told Xinhua while comparing prices of similar products.”

https://english.news.cn/20240311/946725e167184ab1b0718a53df2ad65b/c.html


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“Nigeria hit by wave of food looting as economic crisis deepens…

“Nigeria has been hit by a wave of violent unrest over food as its economic and security crisis deepens, raising fears of widespread hunger and a breakdown in law and order in Africa’s most populous nation. Assaults on grain warehouses have been reported across the country…”

https://www.ft.com/content/8a69bc80-fa5a-4beb-8989-fbd04d2330ac


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“Two Children Killed In Guinea Anti-power Cut Protests…

“Young people carrying stones took to the streets to demand the return of electricity, according to witnesses contacted by AFP, who described a tense situation in the town, where shops were closed. The army was on patrol in several neighbourhoods.”

https://www.barrons.com/news/two-children-killed-in-guinea-anti-power-cut-protests-ae03ab98


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“South Africa’s economic peril: Water crisis woes and looming gas cutoffs threaten stability.

“As South Africa grapples with a multifaceted economic crisis, Business Leadership South Africa CEO Busi Mavuso highlights urgent concerns, including water scarcity affecting major cities and industrial operations.”

https://www.biznews.com/sarenewal/2024/03/12/water-crisis-woes-looming-gas-cutoffs


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“Zambia’s Chambishi copper smelter cuts output as drought hits power supply…

“The power shortage comes amid a gradual decline in Zambia’s copper production due to lack of new investment at some operations, including Konkola Copper Mines and Mopani Copper Mines.”

https://www.reuters.com/markets/commodities/zambias-chambishi-copper-smelter-scales-back-capacity-amid-power-cuts-sources-2024-03-11/


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“Water rationing begins in Venezuela amid drought… In deeply polarized Venezuela even the rain can set off political fighting…

“As the country’s dry season extends longer than normal, the water level at one of the three reservoirs ringing Caracas has fallen to near record lows. That prompted authorities on Wednesday to begin implementing a rationing plan…”

https://uk.news.yahoo.com/water-rationing-begins-venezuela-amid-drought-223728517.html


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“Haiti’s prime minister Ariel Henry resigns as law and order collapses…

“Mr Henry is currently stranded in Puerto Rico after being prevented by armed gangs from returning home… “I’m asking all Haitians to remain calm and do everything they can for peace and stability to come back as fast as possible,” Mr Henry said in a video address announcing his resignation.”

https://www.bbc.co.uk/news/world-latin-america-68541349


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“Sail-powered cargo ship ‘shows potential of wind’…

“”We believe technologies that harness the wind could be an important, cost-effective way to achieve our decarbonisation goals in the short, medium and long-term,” said Jan Dieleman, president of Cargill’s Ocean Transportation business.”

https://www.bbc.co.uk/news/technology-68543677


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“As Cop29 president, I will build bridges between the diverging north and south to keep 1.5C in reach [Mukhtar Babayev]…

“…meeting 1.5C obligations requires clean energy consumption and production to shift together, and that we must find mechanisms to guard against further interruption of both by future geopolitical events.”

https://www.theguardian.com/commentisfree/2024/mar/12/cop29-bridges-diverging-north-and-south-15c-in-reach


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“The next 30 years will see artificial intelligence spark a huge change in the way we live, akin to the shift between hunter-gatherers and today’s digital economy, a top AI expert has claimed…

“Broussard is optimistic about the future, believing that AI could bring about an age of leisure where people work three days a week or even less…”

https://uk.news.yahoo.com/why-ai-could-collapse-world-economy-115459215.html


You can read the previous “Economic” thread here. I’ll be back tomorrow with a “Climate” thread.

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