China – Page 5 – Desdemona Despair

Percentage of OECD countries experiencing higher-than-average inflation, 1970-2022. The global inflation shock that began in the United States in 2021 and took hold worldwide in 2022 will have powerful economic and political ripple effects in 2023. It will be the principal driver of global recession, add to financial stress, and stoke social discontent and political instability everywhere. Today’s historically high inflation comes from multiple sources. First was the Covid-19 pandemic, which prompted governments to cushion the fall in incomes with extraordinary fiscal and monetary stimulus at the same time that it disrupted global supply. Then, just as the United States and Europe were coming out of the pandemic thanks to vaccines, China doubled down on its zero-Covid policy, locking down the global economy’s most important manufacturing and shipping hubs. Finally, Russia’s invasion of Ukraine and the West’s sanctions in response put a strain on the global supply of energy, food, and fertilizer. This unprecedented confluence of overlapping shocks pushed inflation to levels most countries hadn’t seen in nearly 50 years. Graphic: Eurasia Group

January 22, 2023

Eurasia Group’s Top Risks for 2023 – “The risks this year are the most dangerous we’ve encountered in the 25 years since we started Eurasia Group”

By Ian Bremmer and Cliff Kupchan 3 January 2023 (Eurasia Group) – Russia has no way to win in Ukraine. The European Union is stronger than ever. NATO rediscovered its reason for being. The G7 is strengthening. Renewables are becoming dirt cheap. American hard power remains unrivaled. Midterms in the United States were decidedly normal […]

Regional glacier mass change and contributions to sea level rise from 2015 to 2100. Discs show global and regional projections of glacier mass remaining by 2100 relative to 2015 for global mean temperature change scenarios. Discs are scaled based on each region’s contribution to global mean sea level rise from 2015 to 2100 for the +2°C scenario by 2100 relative to preindustrial levels, and nested rings are colored by temperature change scenarios showing normalized mass remaining in 2100. Regional sea level rise contributions >1 mm SLE for the +2°C scenario are printed in the center of each disc. The horizontal bars below each disc show time series of area-averaged annual mass balance from 2015 to 2100 for +1.5°C (top bar) and +3°C (bottom bar) scenarios. The colorbar is saturated at −2.5 m w.e., but minimum annual values reach −4.2 m w.e. in Scandinavia. Graphic: Rounce, et al., 2022 / Science

January 7, 2023

Half of glaciers will be gone by 2100 even under Paris 1.5C accord, study finds

By Phoebe Weston 5 January 2023 (The Guardian) – Half the planet’s glaciers will have melted by 2100 even if humanity sticks to goals set out in the Paris climate agreement, according to research that finds the scale and impacts of glacial loss are greater than previously thought. At least half of that loss will happen […]

Body bags lay on gurneys at the back entrance of a funeral home in Shanghai, China, on Saturday, 31 December 2022. Photo: Qilai Shen / Bloomberg

January 3, 2023

Bodies pile up in China as Covid surge overwhelms crematoriums – “Bodies are overflowing everywhere”

3 January 2023 (Bloomberg News) – For five days the elderly Chinese lady’s corpse lay decomposing in the Shanghai house she shared with her family before a hearse finally arrived to take away her remains. “We’re lucky it’s the cold winter time,” a relative said last week at Shanghai’s Longhua Funeral Home, recounting the ordeal […]

Maasai children stand beside a zebra that local residents say died due to drought, as they graze their cattle at Ilangeruani village, near Lake Magadi, in Kenya, on 9 November 2022. Photo: Brian Inganga / AP Photo

December 31, 2022

In 2022, AP photographers captured pain of a changing planet

By Peter Prengaman 16 December 2022 (AP) – In 2022, Associated Press photographers captured signs of a planet in distress as climate change reshaped many lives. That distress was seen in the scarred landscapes in places where the rains failed to come. It was felt in walloping storms, land-engulfing floods, suffocating heat and wildfires no […]

Photo portrait of economist Nouriel Roubini. Photo: Charlie Bibby / Financial Times

December 20, 2022

Financial Times interview with economist Nouriel Roubini, aka “Dr. Doom” – “I think that really the world is on a slow-motion train wreck”

By Henry Mance 18 December 2022 (Financial Times) – Nouriel Roubini is gloomy, and it’s not just that he arrived in London on a red-eye flight and couldn’t get a table at Nobu. It’s not even conventional economic worries. It’s everything: a confluence of problems, old and new. “I think that really the world is […]

The leadership of the U.N.-backed COP15 biodiversity conference applaud after passing the Kunming-Montreal Global Biodiversity Framework in Montreal, Quebec, Canada, 19 December 2022. Photo: Julian Haber / UN Biodiversity / REUTERS

December 19, 2022

COP15 reaches deal to halt decline in nature by 2030 – Countries to allocate $200 billion per year for biodiversity initiatives but funds to biodiversity are miniscule – “We know the global economy and every company in it is negatively impacting biodiversity”

By Isla Binnie and Gloria Dickie 19 December 2022 MONTREAL (Reuters) – A United Nations summit approved on Monday a landmark global deal to protect nature and direct billions of dollars toward conservation but objections from key African nations, home to large tracts of tropical rainforest, held up its final passage. The Kunming-Montreal Global Biodiversity […]

U.S. President Joe Biden departs after speaking at the COP27 U.N. Climate Summit, Friday, 11 November 2022, at Sharm el-Sheikh, Egypt. Photo: Alex Brandon / AP Photo

November 20, 2022

COP27 ends in tears and frustration – Reactions from participants – “The world will not thank us”

By Camilla Hodgson 20 November 2022 Sharm el-Sheikh, Egypt (Financial Times) – Choking back his emotions, Tuvalu finance minister Seve Paeniu held up a photo of five youth delegates from his country and expressed his “deep regret and disappointment” that COP27 had been a “missed opportunity”. More than 80 countries had supported a proposal to […]

Number of U.S. dollar billionaires in China, 1999-2022. The year 2022 saw the biggest fall in the Hurun China Rich List in the 24 years of its existence. Data: Hurun Research Institute. Graphic: James P. Galasyn

November 20, 2022

China’s superrich decimated as economic downturn wipes out billions – “This year has seen the biggest fall in the Hurun China Rich List of the last 24 years”

By John Feng 8 November 2022 (Newsweek) – China’s wealthy lost hundreds of billions of dollars in 2022 as the global economic downturn also shook up the country’s typically high-growth industries, according to an annual rich list published on Tuesday. The number of Chinese entrepreneurs worth 5 billion Chinese yuan ($710 million) or more on September 15 […]

Landsat images from 21 February 2000 (left) and 27 July 2019 (right) illustrating glacier retreat on top of Mount Kilimanjaro (United Republic of Tanzania). Photo: U.S. Geological Survey

November 19, 2022

Kilimanjaro’s and Africa’s last glaciers to go by 2050, says UN – “What is quite unprecedented in the historical record is how quickly this is happening”

By Patrick Hughes 3 November 2022 (BBC News) – Glaciers across the globe – including the last ones in Africa – will be unavoidably lost by 2050 due to climate change, the UN says in a report [UNESCO finds that some iconic World Heritage glaciers will disappear by 2050 –Des]. Glaciers in a third of […]

Global human population, 1700-2022. On 15 November 2022, the world’s population was estimated to reach 8 billion people, having grown by 1 billion since 2010. This is a remarkable milestone given that the human population numbered under 1 billion for millennia until around 1800, and that it took more than 100 years to grow from 1 to 2 billion. By comparison, the increase of the world’s population over the last century has been quite rapid. Despite a gradual slowing in the pace of growth, the global population is projected to surpass 9 billion around 2037 and 10 billion around 2058. Graphic: UN DESA

November 19, 2022

Global human population hits 8 billion – “We are already overstretching what we have: the housing, roads, the hospitals, schools. Everything is overstretched.”

By Dan Ikpoyi and Chinedu Asadu 15 November 2022 LAGOS, Nigeria (AP) – The world’s population will likely hit an estimated 8 billion people on Tuesday, according to a United Nations projection, with much of the growth coming from developing nations in Africa. Among them is Nigeria, where resources are already stretched to the limit. More than […]