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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“Age Of Debt – Why We Should Start To Worry About Rising Debt Levels…

“It will be impossible for the world economy to grow at a sustainably high rate until the mountain of debt that the large nations have accumulated is reduced….

“Several other ‘truths’ are becoming clear. Nearly fifteen years on from the global financial crisis, it seems that the policy community has largely forgotten the lessons of the crisis.”

https://www.forbes.com/sites/mikeosullivan/2024/03/30/age-of-debtwhy-we-should-start-to-worry-about-rising-debt-levels/


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“Interest rate cuts or no, a new financial crisis may be inevitable…

“There is growing unease in and beyond financial markets over the idea that another systemic crisis could be approaching… I believe such an event is inevitable. The trouble is that the nearer a crisis seems to get, the more reluctant regulators of finance… are to talk about it openly, for fear of precipitating such a crisis.”

https://www.scmp.com/comment/world-opinion/article/3257088/interest-rate-cuts-or-no-new-financial-crisis-may-be-inevitable


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“Inflation Victory Is Proving Elusive, Challenging Central Banks and Markets…

“Inflation is proving stickier than expected in the U.S. and Europe, creating a headache for central bankers and sowing doubts on whether investors are too optimistic about the world economy… Fewer, or no, rate cuts would have sweeping repercussions for the global economy and markets…”

https://www.wsj.com/economy/global/inflation-victory-is-proving-elusive-challenging-central-banks-and-markets-cef0d601


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“Rising global threats force ‘epoch-making’ shift in world order…

“The return of great power competition across the globe is forcing countries to adapt, spurring major changes to alignment and spending from Europe to the Indo-Pacific to the Middle East. The change is everywhere on the map…”

https://thehill.com/policy/defense/4564367-rising-global-threats-shift-world-order/


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“Gold hits new record on Fed cut outlook and geopolitical tensions…

“Bullion jumped as much as 1.2% to $2,256.44 an ounce early on Monday, after setting a series of all-time highs in recent sessions… Lower rates are positive for gold, which doesn’t offer any interest.”

https://www.bloomberg.com/news/articles/2024-04-01/gold-xauusd-hits-record-on-fed-cut-outlook-and-geopolitical-tension


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“Companies rush to issue bonds to forestall market volatility ahead of US election…

““We’re running circa two months ahead of what I would consider a normal type schedule for investment-grade issuance,” said Teddy Hodgson, co-head of Morgan Stanley’s global investment-grade debt syndicate. “I certainly think the election is a driving force for all of this supply.””

https://www.ft.com/content/2b16f721-007d-4148-b4b7-bca15d054bed


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“The United States has said it will impose new visa restrictions on a number of Hong Kong officials responsible for cracking down on “rights and freedoms”, days after a draconian national security law went into force in the Chinese-ruled territory.

“The law ­- referred to as Article 23 – gives the government new powers to crack down on all forms of dissent…”

https://www.aljazeera.com/news/2024/3/30/us-to-impose-visa-restrictions-on-hong-kong-officials-over-rights-concerns


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“China renames 30 locations in latest move to assert claim over Arunachal Pradesh…

“The Chinese Ministry of Civil Affairs on Saturday renamed 30 more places in Arunachal Pradesh to lay claim to what it calls Zangnan, or part of the Tibetan autonomous region… Recently, The Chinese military had also criticised the US for its assertion that Arunachal Pradesh is part of India…”

https://www.livemint.com/news/world/china-renames-30-locations-in-latest-move-to-assert-claim-over-arunachal-pradesh-report-11711934391081.html


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“Why are so many Indians being forced to work in war zones?

“Despite India’s economy being one of the fastest growing in the world, rates of unemployment and the quality of the jobs on offer remain a huge concern for millions. Namita Singh reports… The government has been reluctant to release official unemployment figures…”

https://www.independent.co.uk/asia/india/india-army-russia-ukraine-war-tortured-b2521456.html


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“Red Sea crisis; Gujarat exporters turn to costly aerial routes…

“Manufacturers of perishable goods, such as pharmaceuticals, have diverted shipments to air cargo. About 50% of the country’s pharma industry revenues come from exports to the US and Europe. As almost two-thirds of Indian pharma exports take place through the sea route, costs are a key concern for pharma majors here.”

https://timesofindia.indiatimes.com/city/ahmedabad/red-sea-crisis-gujarat-exporters-turn-to-costly-aerial-routes/articleshow/108931602.cms


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“Indian Ports struggle with massive demand as Ships Re-Route amid Red Sea Crisis…

“…bunker demand across ports in both India and Sri Lanka has witnessed a massive surge, highlighting a growing challenge for the maritime industry… ports on India’s west coast, particularly Kochi and Mumbai, are grappling with disrupted VLSFO (Very Low Sulfur Fuel Oil) supplies, exacerbating the situation.”

https://indiashippingnews.com/indian-ports-struggle-with-massive-demand-as-ships-re-route-amid-red-sea-crisis/


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“How war is putting Middle East aviation at risk…

“The plummeting bookings, operational difficulties and financial losses being experienced by the aviation sector are being exacerbated by a widespread perception that the Middle East is in turmoil. “They lump the region as a homogeneous unit, which is unfair and bad,” Mr Majali said.”

https://www.thenationalnews.com/opinion/editorial/2024/04/01/flying-aviation-middle-east-gaza-israel-war-travel-tourism-economy/


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“Jordan, Morocco, and Iraq: Protests in Arab countries witness security crackdown.

“The Arab region witnessed demonstrations at night in several countries, such as Jordan, Morocco, and Iraq, with some of them witnessing security forces intervening to disperse them. In Jordan, activists reported that Jordanian security forces forcefully dispersed protests and marches in the Rabia suburb of the capital…”

https://www.middleeastmonitor.com/20240331-jordan-morocco-and-iraq-protests-in-arab-countries-witness-security-crackdown


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“Saudi Arabia’s Israel strategy upended by anger over Gaza war…

“Saudi officials have repeatedly called for a halt to the war and led Arab nations in accusing Israel of committing war crimes in Gaza. They fear that the brutal images emerging from the shattered territory will radicalise their young population.”

https://www.ft.com/content/821b67bd-5736-4ffd-b66f-3bb1830560d2


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“Israel’s escalating defense spending poses risks to the economy and increases need to be carefully considered, the nation’s central bank governor said.

“The war with Hamas is set to enter a seventh month, putting a strain on finances and driving up the proportion of debt to gross domestic product as the government borrows to fund the conflict…”

https://www.bloomberg.com/news/articles/2024-03-31/israel-central-banker-warns-on-impact-of-rising-defense-spending


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“Tens of thousands of Israelis take part in anti-government protests…

“Demonstrators claimed the Jerusalem protest was the biggest since Israel launched its war on Gaza in October. Prime Minister Benjamin Netanyahu’s government has faced widespread criticism over the security failure of the October 7 Hamas-led attack…”

https://www.aljazeera.com/news/2024/3/31/israelis-stage-largest-anti-government-protest-since-gaza-war-began


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“Fears grow that Gaza could become ‘Mogadishu on the Mediterranean’…

“Gaza is facing deepening anarchy as the last remnants of civil order break down, leaving a vacuum increasingly filled by armed gangs, clans, powerful families and criminals, dozens of interviews with senior aid officials, experts and people in the territory reveal.”

https://www.theguardian.com/world/2024/apr/01/gaza-israel-hamas-war-armed-gangs-mogadishu-on-the-mediterranean


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“We Can’t Bear to Think About Sudan and Haiti, So We Don’t [opinion piece, so may ring true for some readers; may not…].

“Media and governments in the West pay far less attention to the suffering there than in Ukraine or Gaza… For most Western observers, the scale and nature of the suffering in Sudan, like the origins and logic of the multi-layered conflicts causing it, exceed comprehension.”

https://www.bloomberg.com/opinion/articles/2024-03-31/sudan-and-haiti-s-anarchy-are-too-messy-and-painful-for-west-to-face


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“Russia Carries out Dozens of Strikes against ISIS in Syria…

“Air raids against ISIS have been intensified after the terrorist group also increased its attacks in areas held by the government. It has also been carrying out more executions against its forces.”

https://english.aawsat.com/arab-world/4942981-russia-carries-out-dozens-strikes-against-isis-syria


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“New Azerbaijani-Armenian Tensions Flare Around Nagorno-Karabakh…

“Azerbaijan warns Armenia against military ‘provocation’ along border… Baku accused its arch-rival of amassing troops, armoured vehicles, artillery installations, and other heavy firepower along the border.”

https://www.trtworld.com/europe/azerbaijan-warns-armenia-against-military-provocation-along-border-17588781


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“Turkish local elections: Opposition stuns Erdogan with historic victory…

“Turkey’s main opposition party has claimed big election victories in the main cities of Istanbul and Ankara… In the capital Ankara, opposition mayor Mansur Yavas was so far ahead of his rival on 60% that he declared victory when less than half the votes were in.”

https://www.bbc.co.uk/news/world-europe-68704375


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“Serbia is paying high price due to geopolitical situation: President…

“”Difficult days are ahead for Serbia. At this moment, it is not easy to say what kind of news we have received in the last 48 hours,” he said on social media but indicated that it is related to direct threats to Serbia’s national interests.”

https://www.aa.com.tr/en/europe/serbia-is-paying-high-price-due-to-geopolitical-situation-president/3178866


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“‘Europe must build a war economy without delay’.

“Former French junior minister for Europe Laurence Boone and former Moldovan foreign minister Nicu Popescu argue that the EU must act quickly to adapt its economy and regulatory framework to the new geopolitical reality.”

https://www.lemonde.fr/en/opinion/article/2024/04/01/europe-must-adapt-and-build-a-war-economy-without-delay_6666993_23.html


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“France’s fiscal woes cast a long shadow over Macron’s EU ambitions…

“The French government is scrambling to make savings and reassure financial markets after official figures this week showed that public deficit had overshot its target and widened to 5.5 percent, a harsh fiscal reality that could upend Macron’s wartime-leader-of-Europe aspirations.”

https://www.politico.eu/article/emmanuel-macron-france-fiscal-woes-shadow-eu-ambitions/


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“French unions threaten strikes during Olympics…

“French public sector workers who staff hospitals, public transport and museums are threatening to strike during the summer Olympics, setting up a showdown with Emmanuel Macron’s government… About 16 million people are expected in Paris for the games that will focus planetary attention on the city from July 26 to August 11.”

https://www.ft.com/content/4b8a37d1-342a-4746-bd67-c7300e915954


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“‘Living hand to mouth’: Record number of police officers turning to food banks [UK]…

“Worried officers have proposed setting up food banks for police recruits, The Independent can reveal, as one in 10 admit to relying on handouts. Figures show that record numbers of police are struggling with food poverty and turned to food banks last year as wages stagnated.”

https://www.independent.co.uk/news/uk/crime/police-officer-pay-foodbank-cost-living-b2520248.html


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“Farmers claiming benefits told their farms are ‘hobbies’ and to get jobs…

“The older benefit system calculated on a yearly average is currently being replaced by Universal Credit, under which households are assessed on their monthly income. But farmers say their income varies wildly over the year because of agricultural seasons, meaning the system does not work for them.”

https://www.telegraph.co.uk/environment/2024/03/30/farmers-on-universal-credit-told-farms-are-hobbies/


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“Inside the net zero row plaguing the Welsh countryside…

“It looks tranquil, but Wales’ countryside has become Britain’s new energy battleground – where lucrative wind farm developments are generating not just electricity, but neighbourhood rows and punch-ups at public meetings. Farmers have even allegedly been offered lap dances to surrender their land to turbines.”

https://www.telegraph.co.uk/business/2024/04/01/inside-net-zero-row-welsh-countryside/


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“How green energy makes us vulnerable to cyberattack…

“So-called distributed energy systems provide an increasing number of entry points to the grid. An academic study last November modeled a case in which a remote attacker commandeered public EV chargers to create electric frequency distortions that led to a systemwide blackout in Manhattan.”

https://www.wsj.com/articles/how-green-energy-makes-us-vulnerable-to-cyberattack-electric-vehicle-china-04f803dc


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“AI chatbots beat humans at persuading their opponents in debates…

“…the experiment shows that it is possible to individually target and persuade people using LLMs [large language models], says Horta Ribeiro. The AI’s ability to recall content from its training data on more obscure topics may be one reason why it was more effective at debating than humans.”

https://www.newscientist.com/article/2424856-ai-chatbots-beat-humans-at-persuading-their-opponents-in-debates/


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

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