Tropical cyclones are one of the costlier meteorological events for the economy of a country. With global warming, these events are to become stronger and more severe. Countries that until now were able to offset economic losses from hurricanes, might struggle to do so in a warmer world.
RECEIPT researchers just published a paper presenting a “qualitative change in the global economic response in an increasingly warmer world”. This qualitative change shows that it will be increasingly more difficult for countries like the United States to balance their regional production if they are hit by more intense hurricanes.
Our researcher, Robin Middelanis, from the Potsdam Institute for Climate Impact Research (PIK) and Potsdam University, and lead author of the study says “Our calculations show, for the first time, that the US economy as one of the strongest on our planet, will eventually not be able to offset the losses in their supply chains on their own. Increasing hurricane damages will exceed the coping capacities of this economic super-power.”
The study, based on computer simulations of over 7000 regional economic sectors with more than 1.8 million supply chain connections, highlights that the US will be in an economic disadvantage if these meteorological events become more intense.
Published on : 20 October 2022