Global Scans · Trade · Weekly Summary

• [New] A Russian victory in Ukraine could throw the world into disarray, transform the global economy, and trigger nuclear proliferation and further conflicts. Insider
• [New] Russia defeating Ukraine could spark chaos and slam the global economy. Insider
• [New] Brussels - along with allies in Washington - has raised fears that Chinese industrial overcapacity created by excessive state subsidies could see global markets flooded with cheap Chinese EVs. The Daily Star
• [New] The International Maritime Organization is the United Nations agency that regulates global shipping and it's set a target of carbon neutrality by 2050 for the cruise industry-shipping currently produces 300 million tonnes of carbon emissions every year, around 3% of global emissions. Forbes
• [New] AI remains one of hottest areas to invest in, and has the potential to have a huge impact on the global economy (estimated by PWC to be $15.7trn by 2030). BNY Mellon
• [New] Since PFHxS is environmentally persistent and products containing PFHxS are still in use and may be imported into the United States, the EPA anticipates environmental contamination to sources of drinking water will continue. Federal Register
• [New] Overall, while the target of $1 trillion in merchandise exports by 2030 presents significant challenges, officials are optimistic about overcoming them through strategic infrastructure development and integration into global supply chains. Optimize IAS
• [New] The urge to improve efficiency and invest in cutting-edge technologies such as generative AI could provide the global economy with both a cyclical and structural tailwind. MIT OpenCourseWare
• [New] ~8,300 turbines are forecast to be installed globally (excluding China) between 2024 and 2030 and close to 15,500 in 2031-2035, as global offshore wind capacity (excluding China) grows to ~380 GW of capacity at the end of the forecast period. MarineLink
• [New] Global heat waves, linked to climate change, are increasing and will increase; global cold events are decreasing and will keep decreasing; both global heavy rain and drought will increase. FinExtra
• [New] Setzer expects the geopolitical and economic environment to remain difficult due to the war in Ukraine, ongoing strained supply chains and low growth at best in global automotive production. Automotive World
• [New] The potential for a diverse and inclusive tech community in Miami is vast and can serve as a model for other tech hubs nationally and globally. Refresh Miami
• [New] The use of trade barriers has long been opposed by developers, who say higher prices driven by tariffs could slow U.S. solar growth and make it more expensive to address climate change. Scientific American
• [New] The potential global economic impact of space weather events such as a severe geomagnetic storm are significant and could incur losses totalling 38.4 billion euros ($41.1 billion) per day. SpaceNews
• [New] While 95% of the global population has the theoretical potential to access the internet, almost half remain offline due to limited digital skills or financial constraints. TechRadar
• Even with significant reductions in CO2 emissions starting today, the global economy is poised to experience a 19% decrease in income by 2050 due to the impacts of climate change. SciTechDaily
• We expect pipeline imports from Canada to remain a key supply source, particularly for the U.S. Midwest region during winter months. EIA - Energy Information Administration
• Global warming of 3 °C increases the risk of extreme rainfall worldwide, which reduces global GDP, on average, by 0.2% - which, at the current size of the global economy, would equal US$ 200 billion. ScienceDaily
• Climate change caused by CO 2 emissions already in the atmosphere will shrink global GDP in 2050 by $38 trillion, or almost a fifth, no matter how aggressively humanity cuts carbon pollution. phys.org
• Jordan aspires to develop technology to exploit renewable energy sources and the opportunities available in the energy transition in order to become a regional hub for the production and export of green energy. Fana News
• Global heating will inflict economic losses on the global economy of $38 trillion a year by 2049 as extreme weather ravages agricultural yields, harms labour productivity, and destroys infrastructure. CleanTechnica
• India's climate-outages are going to be hard for trading partners and global markets to ignore as its economy grows. CNN
• Despite stronger growth in some trading partners (the United States, in particular), the contribution from net exports will generally decrease in 2024 as the pickup in domestic demand leads to a gradual increase in imports. IMF eLibrary

Last updated: 29 April 2024