Global Warming Has Already Slowed Economic Growth in Poor Countries

.@PNASNews 'We find that global warming has very likely exacerbated global economic inequality, including ∼25% increase in population-weighted between-country inequality over the past half century.' e.g., #India vs #Norway... via @pdacosta @MRVAssociates

Figure abv shows the simulated impact on per-capita GDP from the effect of #GlobalWarming on #EconomicGrowth **that has already occurred** over 1961-2010, (using a model w quadratic dependence of GDP on Temperature and Precipitation). %ΔGDP/capita 1961-2010 #IND: -31%, #CHN -1.4%

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D Wallace Wells Speaks At Goldman Sachs on 'The Uninhabitable Earth'

@dwallacewells speaks @GoldmanSachs on his book #TheUninhabitableEarth: #ClimateChange not a #LongTerm issue or just about #ArcticIce Melt+ #SeaLevelRise: 'Let us not be afraid to be afraid' '#WW2 was fought w #Fear & #Alarm' #Speed #Scope #Severity

And a vexing #India-#China comparison - India will be hit hardest - whereas India will have 4X the #ClimateImpact relative to its #CarbonFootprint, China will have only 0.25X the Impact relative to _its_ Footprint (And China's C- Footprint is ~ quarter of Global C-Footprint!) 

#Geopolitics around #ClimateChange will transform the world. #ParisAccord2015 is failing unraveling... hope is US-China will pool resources for joint R&D on climate change mitigation, adaptation, and particularly on #NegativeCarbonEmissions, (since CC M&A won't be enough).

 

Globalization is Slowing: Slowbalization

.@TheEconomist: #Globalization is slowing. #Slowbalization. Most visible in #FDI flows, cross-border bank loans; share of int'l supply chains that are intra-regional. But opposite trend in cross-border bandwidth & air travel. via @menakadoshi #Davos2019 https://t.co/Ql58B8n7Yr pic.twitter.com/Ui6DJpwhbd

— Satyen Baindur (@Satyen_Baindur) January 24, 2019

Article also cites @arvindsubraman @PIIE @CGDev on the Four Headwinds for Emerging Market Economies eg India: #Slowbalization, Automation, Weak Education Systems, and #ClimateChange-related stress on agriculture.

— Satyen Baindur (@Satyen_Baindur) January 24, 2019

Climate Change is a Central Bank Issue

.@FerdiGiugliano Global Warming Is a #CentralBank Issue: Assessing #ClimateRisks, eg those on #Insurers' books- is w/in the #FinancialStability mandate: may require extending the #SupervisoryHorizon and possibly #Compulsory #Transparency https://t.co/YB9jvyICmF via @HalfonJulien

— Satyen Baindur (@Satyen_Baindur) April 13, 2018

#Villeroy - And on top of that, supervisers « should develop forward-looking carbon stress tests for both insurance companies and banks – what I call “the video of risks”» 2/2 https://t.co/p6p0AtEKiF

— Banque de France (@banquedefrance) April 6, 2018

Climate Change and the Macroeconomy

.@bankofengland Staff Working Paper No.706 ' #ClimateChange & the #Macroeconomy' by Sandra Batten - very nice review of the field. #GDP impacts will b felt both via gradual warming _&_ increase in severity+frequency of #ExtremeEvents - and both in level & growth rate pic.twitter.com/QMl07Bm3h6

— Satyen Baindur (@Satyen_Baindur) January 29, 2018

...however, #ExtremeEvents #NaturalCatastrophes #Hurricanes #Cyclones #Earthquakes #Floods etc #CompetingHypotheses for the GDP path: #CreativeDestruction #Recovery2Trend or #NoRecovery pic.twitter.com/QNxWwORg8U

— Satyen Baindur (@Satyen_Baindur) January 29, 2018

The case of #HurricaneHarvey illustrates this point nearly perfectly! 'The @DallasFed has repeatedly reported surging or elevated auto sales in its district, after Hurricane Harvey-related floods ruined vehicles and homes.'https://t.co/qjvDxuPbJW

— Satyen Baindur (@Satyen_Baindur) January 29, 2018

'while the economy of #PuertoRico, technically an overseas territory of the United States, shrank by 8%, in the wake of a devastating hurricane (#HurricaneMaria) which left much of the island without electricity.' via @EconomicsOne @NinjaEconomics @TheEconomist @ECONdailycharts pic.twitter.com/0RZtlU6GFL

— Satyen Baindur (@Satyen_Baindur) January 30, 2018