El Nino Impact on Economy: A research is claiming that this year is going to be very hot. There is a drought situation in many countries including India. A research published in El Nino Science Journal has warned that the arrival of El Nino may wipe out the world’s economy worth 3 trillion dollars. and there is a fear of its coming this time too. El Nino caused global income losses of $4.1 trillion and $5.7 trillion in 1982-83 and 1997, respectively.
What is El Nino
Ocean The phenomenon of coastal warming is called El-Nino. To put it more simply, El Nino conditions are caused by changes in ocean temperature and atmospheric conditions. When El Nino occurs, the sea surface temperature rises 4 to 5 degrees above normal.
2016 showed severe effects of El Nino
The research has said that the arrival of El Nino this year has been predicted at a time when the sea level temperature is at its highest level. The report said that the last time a severe El Nino was observed was in 2016, which was recorded as the warmest year on record.
What will happen when El Nino arrives?
In an El Nino year, problems such as severe flooding, crop destruction, drought, decline in fish populations, and increase in tropical diseases occur, causing money to be lost. Pressure mounts and the economy suffers.
$3 trillion could stall by 2029
Business Insider reports Dartmouth College doctoral candidate Christopher Callahan. Said the world is ready for a big El Niño. Our results suggest that there will likely be a large economic toll, possibly affecting economic growth in the tropics for up to a decade. The arrival of El Nino could reduce the world economy by 3 trillion dollars by 2029, the researcher said.
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