Climate Change Effects of Climate Change Economic

Climate Change Effects of Climate Change Economic effects of global climate change In this paper, we will discuss the economic effects of global climate change on rich as well as poor countries. Our emphasis will be on the point that the rich countries might have a difficult time but they can manage with the situation whereas the poorer countries will be impacted the hardest. Firstly let's review some of the facts regarding the global climate change phenomena and then we'll focus on our main topic.

Facts, figures and economic impact Here are some of the facts and figures related to the worldwide climate change, the overall average temperatures have increased by 0.8 degree Celsius (1.4 degrees Fahrenheit) throughout the globe since 1880, here much of the change has occurred in recent decades and according to many reports the last two decades of 20th century were the warmest in the previous 400 years. The Arctic region is probably feeling the most impact of temperature rises.

Here regions such as Alaska, eastern Russia and western parts of Canada have seen their temperatures increased by more than double the world average. Deforestation, increased industrialization as well as increment in pollution levels have raised the water vapor concentrations in the atmosphere, also increasing are the levels of carbon dioxide, nitrous oxide as well as all of the other greenhouse gasses which tend to trap heat at globe's surface.

Humans are releasing carbon dioxide much faster due to more economic activities and economic expansion of nations, this is more than the speed at which oceans and plants can absorb them. "If the following trend goes on then many catastrophic events can occur simultaneously which can threaten wildlife and economic progression of nations all across the planet." (Hanley, 2004). The sea levels can rise somewhere between seven and twenty three inches by the end of century.

According to many reports if this level rises to just four inches then it is enough to flood many of the South Sea Islands and put in danger many areas of Southeast Asian region. According to the data available today, some 100 million people are living within three feet of the mean sea level, any migration from these people due to climate change can severely put challenges to their nation's economic infrastructure.

Many parts of the globe's densely populated areas are concentrated in vulnerable coastline cities, In United States the states of Florida and Louisiana are at extreme risk from rising sea levels. If the glaciers across the planet continue to melt with the current rate then it will cause the sea levels to rise, it will also cause water shortages in many different regions which are already running out of fresh water.

Many of the hurricanes, wildfires, droughts and other disasters are becoming more and more common in different parts of the globe. The alarmingly high growth rate of deserts is also causing acute food shortage problems, this can result in people consuming less commodities which in-turn can dampen the economic growth of consumer-based economies. Global climate change is also threatening about a million species which are near extinction since its effects are rapidly changing the ecosystems as well as acidifying the oceans of the earth.

It has also been argued that at some point in future the global climate change may become completely out of control, this can happen through the effect known as positive feedback. "The rising temperatures can release further greenhouse gasses by releasing methane at undersea deposits." (Hardy, 2003). Now, let's focus on how both the rich and poor countries will be affected by the changes mentioned above.

Effect on nations Let's first look at how the rich nations will cope with this crisis, in Southern Europe the change in climate will raise drought levels and temperatures of the whole region which is already very fragile to climate variability. This will reduce the availability of fresh water, summer tourism, potential of hydropower and the crop productivity of nations such as Spain, Portugal, Italy and Greece. In Central Europe there is increasing health risk because of the heatwaves which are projected to rise.

The overall forest productivity will also decline. Here, the rich nations of Europe have the advantage of their financials, they can plan in advance on investing on new technology which can help in bringing them fresh water from the seas, this can greatly reduce their fresh water problem. Europe can also use nuclear power or gas power to fuel their economies and can reduce their dependency on hydropower whose potential might decline due to the climate change. Since almost all of Europe and the U.S.

enjoy the best healthcare services available in the world today therefore any health risk coming from the climate change can be dealt with relative ease. In U.S. The warming may decrease snowpack in western mountains which can bring in flooding, this can be dealt with advance warning systems some of which are already in place today. Many cities in the Northern American hemisphere are thought to suffer from extreme heat and pollution, here the government can help in incrementing plantation process at city levels by increasing parks.

It can also help to advice its citizens on how to deal with climate related issues through advertising and can even save many lives. Overall, the rich economies might suffer but their financials can help them in lowering the impact of this crisis. Now, let's have a look at the poor nations and how they will deal with this situation.

Africa is regarded as one of the most underdeveloped continents on earth, the per capita income of an average person here is mere $4,000, the Sub-Saharan region here is widely regarded as one of the most malnourished, underdeveloped and poor in the world. Effects of global climate change are predicted to cause severe problems here, according to an estimate by the year 2020 some 75 to 250 million.