Economical Effects of global warming

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Economical Effects of global warming:- Among many other calamities that world had experienced in the past, global warming is one of them whose presence is being felt by the people all over the world. Although you must have heard a lot about this menacing natural phenomenon that can surely bring an impending doom on earth, yet no such preventive steps are taken on a strict basis. This unwanted increase in the average temperature of the Earth's surface, air and oceans since the recent past and its expectation of future continuity has been the major concern for the scientist as well as the common people in the world.


The effect of global warming has its sway on various spheres of life which also includes the economic aspect. The economical effects of global warming are a sincere concern which is troubling the people. When the global average air temperature near the earth's surface is rising for the past it can surely harm the economic life of the people. The amount of economic losses which will be experienced by the future world offers a scary statistics. Since the economical effects of global warming can be defined by taking care of several other factors. Since the global economy depends on both agriculture and other sectors, it is essential to know that there are various indirect harms which global warming is capable of doing. In the filed of agriculture the global warming will decrease the percentage of arable land, leading to low productivity and low exporting and importing.

Some of the top economists of the world have tried to estimate the future aggregate net economic costs of damages pertaining to climate change all over the world. Since the growth of temperature can further lead to melting of the ice capped regions, the water level will rise and the people in the coastal regions will be demolished. The rising temperature of the water is destroying the marine life at a fast pace and it will surely harm the fishing industry of the world. When it comes to other sectors of economy, they depend largely on water for their processing part. Some regions of the world will become dry and inherit arid type of climate which may not be congenial for their growth. The economical effects of global warming are vividly described by various programs conducted by the concerned agencies of the world.

The extreme heat and unwanted changes in climate will surely trigger the loss of global gross domestic product by up to 1%. The economists all around the world do predict that the global warming will have an adverse effect on the growth of infrastructure of the world. If people get affected by poor health and suffer form various diseases, it ultimately harms their potential and that leads to waste of human resources. The United Nations Environment Programs put emphasis on the fact that the prevalence of global warming in the world is capable of doing great harm to the insurers, re-insurers and bank. When it comes to other economic sectors, the economical effects of global warming will have a deep impact on agriculture and transport. Developing countries are considered to at larger economic risk than their developed counterpart.


So now you know a little bit about Economical Effects of global warming. Even if you don't know everything, you've done something worthwhile: you've expanded your knowledge.