dearJulius.com Write For Us

Global warming, global trade means floods in China will likely harm U.S. economy

SHARE:

 Road signs partly vanish under a swollen Yangtze River in Chongqing on August 24, 2010. The flooding from torrential summer rains, which has killed at least 700 people and displaced millions, was the worst China had suffered in more than a decade. Photo by UPI/Stephen Shaver | License Photo

By Brooks Hays, UPI

New research suggests climate change is likely to cause more frequent and more destructive flooding in China, triggering economic losses at home and abroad -- including the U.S. economy.

"Climate change will increase flood risks already in the next two decades -- and this is not only a problem for millions of people but also for economies worldwide," Anders Levermann, researcher at the Potsdam Institute for Climate Impact Research in Germany, said in a news release.

Levermann and his colleagues modeled flooding risk in China and its effects on the economies of China's trade partners.

"Through supply shortages, changes in demand and associated price signals, economic losses might be down-streamed along the global trade and supply network affecting other economies on a global scale -- we were surprised about the size of this rather worrying effect," said Potsdam researcher Sven Willner.

The researchers' models used algorithms designed to measure global risk assessment for natural hazards, as well as algorithms inspired by network theory. Together, the model's components helped scientists understand how localized economic shocks propagate in time and space.

The simulations, detailed in the journal Nature Climate Change, provided a reminder that natural disasters can impact the entire global community.

China could suffer as much as $380 billion in economic losses due to flooding over the next 20 years. Such losses would likely trigger direct and indirect economic losses in the United States. The new models suggest increased flooding in China will cause direct losses of $30 billion and indirect losses of $170 billion over the 20 years.

Europe is likely to suffer more modest losses due to their more balanced trade relationship with China, the models showed.

"The U.S. imports much more from China than it exports to this country," Willner said. "This leaves the U.S. more susceptible to climate-related risks of economic losses passed down along the global supply and trade chain."

While the globalized nature of the economy ensures local impacts are felt around the world, it also allows supply chains to readjust, buffering economies against more dramatic losses. These buffering benefits offered by the globalized economy are most fully realized by countries engaging in balanced trade.

According to the new study, President Trump's plans to subject more Chinese imports to tariffs could make the United States more vulnerable to climate-related economic shocks.

"As our study suggests, under climate change, the more reasonable strategy is a well-balanced economic connectivity, because it allows to compensate economic damages from unexpected weather events -- of which we expect more in the future," said Levermann.

COMMENTS



Note: If you think this story need more information or correction, feel free to comment below your opinion and reaction.
Like & Follow to Stay Updated ...

Name

AI,3,Amazon,1,Apple,5,Emoji,1,Facebook,17,Games,35,Google,7,Instagram,6,Science,205,Security,4,Social Media,24,Tech,242,Technology,1080,Tesla,5,Twitter,4,
ltr
item
Technology - U.S. Daily News: Global warming, global trade means floods in China will likely harm U.S. economy
Global warming, global trade means floods in China will likely harm U.S. economy
https://3.bp.blogspot.com/-QCOd5D32VA8/Ww4y3zGBlpI/AAAAAAAArkQ/kV5DARt5y0QaDUMXZIPceN637-SQBwEIACEwYBhgL/s1600/4.jpg
https://3.bp.blogspot.com/-QCOd5D32VA8/Ww4y3zGBlpI/AAAAAAAArkQ/kV5DARt5y0QaDUMXZIPceN637-SQBwEIACEwYBhgL/s72-c/4.jpg
Technology - U.S. Daily News
https://tech.dailynews.us.com/2018/05/global-warming-global-trade-means.html
https://tech.dailynews.us.com/
https://tech.dailynews.us.com/
https://tech.dailynews.us.com/2018/05/global-warming-global-trade-means.html
true
4191228214535516123
UTF-8
Loaded All Posts Not found any posts VIEW ALL Read More Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share. STEP 2: Click the link you shared to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy