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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“The liberal international order is slowly coming apart. Its collapse could be sudden and irreversible…

“For years the order that has governed the global economy since the second world war has been eroded. Today it is close to collapse. A worrying number of triggers could set off a descent into anarchy…”

https://www.economist.com/leaders/2024/05/09/the-liberal-international-order-is-slowly-coming-apart


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“New sources of global instability call for risk rethink…

“The sources of instability are now more diverse. They range from growing autocratisation, the rebalancing of military power, AI-generated cyber risks, more frequent and severe environmental shocks, and competition over new geographic frontiers.”

https://www.strategic-risk-global.com/geopolitical-risk/opinion-new-sources-of-global-instability-call-for-risk-rethink/1451871.article


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“The shifting dynamics of geopolitics are extending their reach to the seas, amplifying concerns over maritime security.

“…recent years have witnessed a surge in geopolitical tensions manifesting in power projection through regional waterways. State and non-state actors are increasingly flexing their muscles, employing control and coercion tactics short of outright warfare.”

https://channel16.dryadglobal.com/maritime-security-how-geopolitics-hardens-threat-patterns-at-sea-and-challenges-known-solutions


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“Britain to expel Russian attaché in response to ‘reckless and dangerous activities’ by Moscow…

“Britain will expel Russia’s defense attaché over spying allegations as part of several measures the government announced Wednesday to target Moscow’s intelligence gathering operations in the U.K.”

https://apnews.com/article/britain-russia-military-attache-expel-hacking-dc98d310a1d26367fa12b0f02a9d5e3d


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“In ‘dangerous world’, UK’s Cameron says NATO must be tougher, spend more…

“British foreign minister David Cameron urged fellow NATO members on Thursday to meet pledges to spend 2% of GDP on defence, saying a tougher foreign policy is needed in a world more dangerous “than most of us have ever known”.”

https://www.reuters.com/world/europe/britain-nato-allies-must-spend-more-be-tougher-uks-cameron-say-2024-05-08/


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“EU agrees €3B raid on Russian assets to buy weapons for Ukraine.

“Ambassadors meeting in Brussels on Wednesday gave the go-ahead after Belgium signaled a climbdown on the way it treats tax revenue on the cash — the last major obstacle to deal.” …Ninety percent of the profits will be used to buy weapons, while the remaining 10 percent will go towards non-military aid.”

https://www.politico.eu/article/belgium-finally-agrees-to-hand-over-ukraine-billions-euros-tax-frozen-russian-assets/


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“US-Style Borrowing Raises Alarm About Finances in Belgium…

“With a population the size of Ohio’s and a slightly smaller gross domestic product, the lack of restraint overshadowing the country’s public finances increasingly resembles that of the world’s biggest economy, but without the impunity that comes with printing the dollar.”

https://www.bloomberg.com/news/articles/2024-05-09/belgium-is-set-to-run-western-europe-s-worst-deficits-for-years-to-come


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“War upends Ukraine’s economy in a shift that may be permanent…

“A study by the World Bank, United Nations, European Commission and the Ukrainian government published in February estimated the total cost of rebuilding the economy at $486 billion, a figure that continues to rise as more damage is incurred.”

https://www.reuters.com/world/europe/war-upends-ukraines-economy-shift-that-may-be-permanent-2024-05-09/


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“Western military trainers could go to Ukraine, Lithuania minister says.

“Lithuania’s foreign minister has raised the prospect of an ad hoc coalition of western countries sending military training personnel into Ukraine backed by ground-based air defence, days after Russia took an increasingly strident tone against what it sees as the threat of deeper western involvement in the war.”

https://www.theguardian.com/world/article/2024/may/09/lithuanian-minister-western-military-training-personnel-could-go-to-ukraine


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“Kremlin warns of ‘huge danger’ if NATO troops are sent to Ukraine, is watching the West closely.

“The Kremlin doubled down on warning that any deployment of NATO troops in Ukraine would represent a significant and dangerous escalation of tensions… spokesperson Maria Zakharova told reporters French troops will be targeted by the Russian army if they are deployed on Ukrainian soil.”

https://www.cnbc.com/2024/05/08/ukraine-war-live-updates-latest-news-on-russia-and-the-war-in-ukraine.html


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“Putin warns of global clash as Russia marks victory in World War Two.

“Russian President Vladimir Putin accused the West on Thursday of risking a global conflict and said no one would be allowed to threaten the world’s biggest nuclear power as Russia marked the Soviet Union’s victory over Nazi Germany in World War Two.”

https://www.reuters.com/world/europe/advancing-ukraine-russia-mark-victory-world-war-two-2024-05-08/


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“Japan-Russia tensions flare over Ukraine war amid decades-long land disputes.

“The Kremlin recently banned non-Russian vessels from waters near the Kuril Islands – known in Japan as the Northern Territories – currently occupied by Russia but claimed by Japan.”

https://www.voanews.com/a/japan-russia-tensions-flare-over-ukraine-war-amid-decades-long-land-disputes/7602490.html


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“Yen’s Fragility Raises Spectre of a New Currency War in Asia…

“As the yen plumbs new lows, some investors are pondering an almost unthinkable scenario in a region busy bolstering falling exchange rates — a series of competitive devaluations that starts a new Asian currency war.”

https://www.bloomberg.com/news/articles/2024-05-08/yen-s-fragility-raises-specter-of-a-new-currency-war-in-asia


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“Is the Lao State Collapsing? The current economic crisis has hollowed out the capacity of an already weak state apparatus…

“The IMF, in a report published this year, reckons debt will remain “very high” for the next two decades. In lieu of repayments, the state is actually whittling itself away. The energy grid is now basically controlled by Chinese state-run firms…”

https://thediplomat.com/2024/05/is-the-lao-state-collapsing/


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“China’s green aluminium ambitions hit by erratic rains, [hydro]power cuts…

“The opportunity to cut electricity bills and help the world’s top polluter tackle global warming seemed like a safe bet. But as Yunnan’s rivers and reservoirs dwindled amid poor rainfall, which some experts attribute to climate change, so did the reliability of electricity.”

https://www.reuters.com/world/china/chinas-push-greener-aluminium-hit-by-erratic-rains-power-cuts-2024-05-10/


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“India Braces for Record Power Shortfall Amid Hydropower Slump…

“India is gearing up to tackle its most significant power deficit in 14 years this June, propelled by a decline in hydropower generation, according to government sources. With projections indicating a shortfall of 14 GW during nighttime hours, the nation’s power sector faces a critical challenge…”

https://oilprice.com/Latest-Energy-News/World-News/India-Braces-for-Record-Power-Shortfall-Amid-Hydropower-Slump.html


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“A high gamble: Will Pakistan’s bet on legalising cannabis help its struggling economy?

“Pakistan is all set to legalise cannabis and has set up a regulatory authority to monitor the sale of the plant. Authorities in Islamabad hope that they will be able to cash in on the booming market of medicinal marijuana and provide a boost to the ailing economy.”

https://www.firstpost.com/explainers/pakistans-legalising-cannabis-economic-crisis-13768963.html


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“Iran Seeks To Tighten Crackdown On Afghan Refugees…

“Interior Minister Ahmad Vahidi told a press briefing that the efforts to regulate foreign nationals needs to be bolstered with legislative reforms to tighten border controls and prevent any future influx of unauthorized migrants.”

https://www.rferl.org/a/iran-afghan-refugees-crackdown-tightens/32938003.html


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“Kazakhstan cracking down on illegal migration in aftermath of Moscow terror attack.

“Kazakhstan is intensifying scrutiny of labor migrants from neighboring Central Asian states, Tajiks in particular, in the aftermath of the late-March Moscow terrorist tragedy. Tajik guest workers are complaining that they are being subjected to mass detention and deportations.”

https://eurasianet.org/kazakhstan-cracking-down-on-illegal-migration-in-aftermath-of-moscow-terror-attack


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“Armenian protestors march against territorial concessions to Azerbaijan.

“The two former Soviet republics have begun the historic process of demarcating their borders. Four zones are to be returned to Baku, sparking protests in Armenia.”

https://www.lemonde.fr/en/international/article/2024/05/10/armenia-protestors-march-against-territorial-concessions-to-azerbaijan_6670971_4.html


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“Tensions simmer along Israel-Lebanon border.

“Tensions on Israel’s northern border with Lebanon are growing. The Israel Defense Forces have been engaged in cross-border fire with the Iran-backed militant group Hezbollah. Thousands of people on both sides of the border have been displaced. Many fear it’s only a matter of time before a full-scale confrontation.”

https://www.dw.com/en/tensions-simmer-along-israel-lebanon-border/video-69036017


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“Benjamin Netanyahu has declared that Israel will “stand alone” in a defiant message after Joe Biden warned that the US would not supply weapons for a potential invasion of Rafah in the Gaza Strip.

“As negotiations for a hostage deal and ceasefire appeared to falter, the rift deepened between Israel and its most important ally, with a series of Netanyahu’s ministers attacking the US president’s stance.”

https://www.ft.com/content/fbd018fe-5392-4334-89a2-e4cf9337cd6e


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“David Cameron says UK will not withhold arms sales to Israel.

“David Cameron has said the UK will not be withholding arms sales to Israel, saying its position is not comparable with that of the US, which has paused the delivery of a weapons shipment, since the UK is not a large state-to-state arms supplier to Israel.”

https://www.theguardian.com/world/article/2024/may/09/david-cameron-says-uk-will-not-follow-us-in-withholding-arms-sales-to-israel


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“UK woos Saudi cash as ‘lethal force’ row engulfs Neom mega-city.

“Britain won’t be putting a major Saudi trade mission on ice despite human rights outcry over MBS-backed Neom desert city. A major U.K. trade mission to Saudi Arabia has been plunged into controversy amid reports Riyadh authorized the use of deadly force to clear land for a futuristic desert mega-city.”

https://www.politico.eu/article/uk-trade-mission-business-saudi-arabia-controversy-riyadh-lethal-force-neom-gulf-cooperation-council-great-futures/


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“Soaring number of migrants trapped in Yemen face abuse and starvation, say NGOs.

“The number of African migrants stranded in Yemen, many of whom endure “horrifying and brutal” violence while trapped there, is reaching critical levels, according to international NGOs and civil society organisations based in the Arab state.”

https://www.theguardian.com/global-development/article/2024/may/08/soaring-number-of-migrants-trapped-in-yemen-face-abuse-and-starvation-say-ngos


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“Kenya floods: as the costs add up pressure mounts on a country in economic crisis…

“I’m particularly concerned about these things: damage done to transport infrastructure, which will affect the prices for goods and services; destruction of crops, which will affect food security; and business losses, which will affect household incomes and consumer purchasing power.”

https://theconversation.com/kenya-floods-as-the-costs-add-up-pressure-mounts-on-a-country-in-economic-crisis-229636


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“Children ‘piled up and shot’: new details emerge of ethnic cleansing in Darfur.

“Gruesome new testimony details one of the worst atrocities of the year-long Sudanese civil war – the large-scale massacre of civilians as they desperately tried to flee an ethnic rampage in Darfur last summer.”

https://www.theguardian.com/world/article/2024/may/09/darfur-atrocities-ethnic-cleansing-human-rights-watch-report-rsf-sudan


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“Congo’s ‘forgotten’ war becomes a fight for survival…

“The fighting has intensified in recent weeks, stoking panic and alarm in Goma, a city of 2mn people swelled by the arrival of hundreds of thousands of internal refugees, many of then living in squalid camps.”

https://www.ft.com/content/495ee17e-aa2f-4674-b56f-a4dbae161d87


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“Benin blocks Niger oil exports in border row…

“Benin has prevented neighbouring Niger from using its port to export its first crude oil, as a border dispute rages between the two nations. President Patrice Talon’s government is demanding that landlocked Niger reopens its side of the border if it wants to use Benin’s ports.”

https://www.bbc.co.uk/news/articles/cmm3dr2e5lqo


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“Suffering worst drought in decades, Costa Rica orders electricity rationing…

“President Rodrigo Chaves has said he prays every day for rain as his requests to purchase energy from Costa Rica’s neighbors have proved difficult since power shortages have also hit the broader region. Widespread power cuts blamed on a heat wave also hit Mexico earlier this week, in addition to similar problems in Colombia and Ecuador.”

https://www.straitstimes.com/world/suffering-worst-drought-in-decades-costa-rica-orders-electricity-rationing


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“Preparations Ramp Up for Global Security Force to Quell Haitian Violence…

“More than half a dozen nations have pledged personnel to a multinational effort to stabilize Haiti… But even as the security situation worsens and millions of Haitians go hungry, a military-style deployment that is estimated to cost $600 million has just a fraction of the funding required.”

https://www.nytimes.com/2024/05/07/world/africa/haiti-security-force.html


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“NOAA issues “Severe Geomagnetic Storm Watch” for the first time since 2005.

“An uncommonly powerful solar storm may occur in outer space Friday, officials have warned – the first in nearly 20 years if it comes to fruition. The National Oceanic and Atmospheric Administration (NOAA) in the US issued the Severe (G4) Geomagnetic Storm Watch late Thursday…”

https://www.dailymail.co.uk/sciencetech/article-13402759/Severe-solar-storm-watch-alert-NOAA.html


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

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