By all rational standards, the news from COP 30, that we are on course to sail way past the Paris target of a 1.5 degree maximum increase in global temperature, is disastrous. It will have big economic and social consequences. But, this is not the only peril facing the nations of Europe. After a long period of productive peace, we are facing a serious military threat from Russia, and major political interference from both Russia and the United States. Looking globally, an external observer might conclude that world leaders are divided into two teams, one with the aim of starting new fires and the other with the aim of putting them out. Right now, the arsonists are winning. This makes it hard for businesses and governments to plan and use resources well, and the effect is shown in the IMF downgrade of forecast world economic growth.
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By all rational standards, the news from COP 30, that we are on course to sail way past the Paris target of a 1.5 degree maximum increase in global temperature, is disastrous. It will have big economic and social consequences. But, this is not the only peril facing the nations of Europe. After a long period of productive peace, we are facing a serious military threat from Russia, and major political interference from both Russia and the United States. Looking globally, an external observer might conclude that world leaders are divided into two teams, one with the aim of starting new fires and the other with the aim of putting them out. Right now, the arsonists are winning. This makes it hard for businesses and governments to plan and use resources well, and the effect is shown in the IMF downgrade of forecast world economic growth.
(more…)