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Global Warming Threatens the Material Basis of the Global Economy

Tim Radford, Climate News Network / TruthDig Haiyan in the Philippines destroyed half the world’s production of coconut oil in 2013. (Henry Donati/UK Department for International Development via Flickr)  

June 17, 2016 Climate change is likely to affect the global economy—and it may already have begun to affect raw material supplies from tropical regions, according to new research.

That is because, in a global economy, the flow of wealth depends on a secure supply chain, and productivity that depends on outdoor work in the tropics could become more precarious in a warming world.

Even in a temperate zone country such as Australia, researchers have linked heat extremes with economic losses. And climate-related disasters are on the increase, claiming not just lives but a growing economic toll.

Tim Radford worked for the Guardian for 32 years as science editor. He has been covering climate change since 1988. He won the Association of British Science Writers award for science writer of the year four times, and a lifetime achievement award in 2005. 

Full story … 

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