How Climate Change Impacts the Economy
Global warming has led to economic instability in the global world, leading to a financial crisis. As a result of Global warming impacts, the economic growth of different countries has recorded poor performance. Focusing on the manufacturing firms, which are the backbone of every economy, global warming negatively affects their operations in an economy. From the previous researches, it is evident that some countries' agricultural sectors are negatively affected by global warming leading to low output production from the crops as a result of poor climatic conditions (Differnbaugh and Burke 9808). Basing on other researches, it is evident that Global warming affects the manufacturing sector and Agricultural sector, and this disturbs the economic performance of the country.
Countries have recorded low and unpleasing Gross Domestic Product (GDP) rate as a result of global warming. In most countries to have a good GDP rate, there must be a balance of payment surplus, which is a result of increased exports. Many nations relied on crop exportation to increase their GDP. Global warming led to the experience of unexpected loss in such nations due to anonymous loss resulting from poor crop production. Exports reduced, pushing the balance of payment to deficit level (Differnbaugh and Burke 9808). Reduction in agricultural production can make a country experience economic disturbances since there will be a reduction in the GDP. Agricultural products contribute to a good percentage of the GDP of a nation.
Other than affecting the agricultural sector, Global warming has also led to increased expenditures on energy. Increased energy expenditure results in the high cost of production in the production sector affect economic growth negatively. As the energy of the global temperatures increases, demand for products to consume deduces. Reduction in consumption is as a result of the high cost of production (Lang and Kenneth 23). As we all know, for a good economic performance, there must be a promising demand for consumption of the products to facilitate consistency in production. High production costs result in inflation that ruins the economic performance.
Human activities that lead to global warming have negatively affected the economic performance of many countries. The application of pesticides and other chemicals by farmers has led to the death of animals and dry plants. They are using pesticides and chemicals while farming results in to increase in temperatures hence global warming. Moreover, plants and animals have died as a result of the chemicals leading to poor production in the agricultural sector (op de Beeck 1847). When the plants dry up, there is a reduction in the amount of rainfall because trees are water catchment areas. Changes in climate and poor weather conditions negatively affect agricultural production, and this leads to poor production hence unstable economic performance.
Health effects have been reflected in the economy due to poor food production. Many non-communicable diseases have resulted from global warming. Natural disasters that result in Global Warmings, like storms, forest fires, famine, which results from Global Warming, are among the causes. In recent years, there has been less food production from crops and animal products. Reduced production of food is an indication of the poor health of people hence the inability to take part in the economic activities (Rosati 7). Reduction in agricultural production as a result of global warming affects economic growth negatively in a country.
Global warming has also resulted in a reduction in agricultural production. Crops and animal yields have generally reduced, causing a disturbance in the economy. High temperatures of crops as a result of global warming have led to changes in the fall of rainfall hence which negatively affects agricultural production (Roudier). Reduction in the rainfall consequently leads to a reduction of food production hence poor economic growth in the country.
Despite affecting the level of agricultural output, industries have also been affected negatively. High temperatures resulted in lowering the production of the products in many industries (Sinanikove and Nazan 27). Low production leads to scarcity of the products hence poor economic performance. The government of different nations should put measures that will ensure that the issue of global warming is addressed and handled well.
Draft Chart
Transition sentence to get from the previous paragraphTopic sentenceSupporting evidence: quotations, summaries, and/or paraphrasesAnalysis and comments on supporting evidenceConcluding Sentence
Paragraph 1 Global warming has led to economic instability in the global world, leading to a financial crisis As a result of Global warming impacts, the economic growth of different countries has recorded poor performanceAgricultural sectors are negatively affected by global warming leading to low output (Differnbaugh and Burke 9808) Recently, agricultural sectors are performing poorly.The economic growth of many countries is negatively influenced by global warming
Paragraph 2 Countries have recorded low and unpleasing Gross Domestic Product (GDP) rate as a result of global warming. Global warming has resulted in a reduction of exports, hence low GDP.
Exports reduced, pushing the balance of payment to deficit level (Differnbaugh and Burke 9808)
Many countries are struggling to recover from the balance of payment deficit.
Agricultural products contribute to a good percentage of the GDP of a nation
Paragraph 3Other than affecting the agricultural sector, Global warming has also led to increased expenditures on energy.
Increased energy expenditure results in the high cost of production in the production sector affect economic growth negatively
. Reduction in consumption is as a result of the high cost of production (Lang and Kenneth 23)
Inflation has been experienced in many countries leading to poor economic performance.
High production costs result in inflation that ruins the economic performance.
Paragraph 4 Human activities that lead to global warming have negatively affected the economic performance of many countries The application of pesticides and other chemicals by farmers has led to the death of animals and dry plantsMoreover, plants and animals have died as a result of the chemicals leading to poor production in the agricultural sector (op de Beeck 1847) There is the destruction of the ozone layer as a result of human activities.
Climatic changes have led to poor production in the economy.
Paragraph 5Health effects have been reflected in the economy due to poor food production. Many non-communicable diseases have resulted from global warming.Reduced production of food is an indication of the poor health of people hence the inability to take part in the economic activities (Rosati 7)Many people are affected by non- communicable diseases as a result of Global Warming.
Poor health of the people leads to poor economic growth
Chapter 6Global warming has also resulted in a reduction in agricultural production
Crops and animal yields have generally reduced, causing a disturbance in the economy
High temperatures of crops as a result of global warming have led to changes in the fall of rainfall hence which negatively affects agricultural production (Roudier).There is poor production in the agricultural sector as a result of climatic change
Reduction in the rainfall consequently leads to a reduction of food production hence poor economic growth in the country.
Paragraph 7Despite affecting the level of agricultural output, industries have also been affected negativelyGlobal warming has affected the production of industries. High temperatures resulted in lowering the production of the products in many industries (Sinanikove and Nazan 27)Low production leads to scarcity of the products hence poor economic performance.High production cost in industries leads to poor economic performance.
Peer Review
Work Cited
Desmet, Klaus, and Esteban Rossi-Hansberger. & quot; On the Spatial Economic Impact Of Global Warming" Journal of Urban Economics
Diffenbaugh, Noah S., and Marshall Burke. & quot; Global Warming Has Increased Global Economic Inequality". Proceedings of The National Academy of Sciences
Lang, Peter A., and Kenneth B. Gregory. & quot; Economic Impact of Energy Consumption Change Caused By Global Warming". Energies
Op de Beeck, Lin et al. " Negative Effects of Pesticides Under Global Warming Can Be Counteracted By A Higher Degradation Rate And Thermal Adaptation". Journal Of Applied Ecology
Rossati, Antonella. & quot; Global Warming and Its Health Impact". The International Journal of Occupational and Environmental Medicine, vol 8, no. 1, 2017, pp. 7-20. Maad Rayan Publishing Company
Roudier, Philippe, et al. "The Impact of Future Climate Change on West African Crop Yields: What Does the Recent Literature Say?" Global Environmental Change, Pergamon
Silanikove, Nissim, and Nazan Koluman (Darcan). "Impact of Climate Change on the Dairy Industry in Temperate Zones: Predications on the Overall Negative Impact and on the Positive Role of Dairy Goats in Adaptation to Earth Warming." Small Ruminant Research
