tl;dr:
As for the current El Niño, income losses associated with it could hit $3 trillion by 2029, with growth potential in many tropical countries weakened well into the 2030s. El Niño is one pulse within the larger and long-predicted process whereby global heating undermines GDP growth and drives inflation up. Since the mid-1970s, per capita global growth has faced headwinds. Its pace accelerated in the late 20th century despite the slowing of global population growth. For the corporate sector, the taxation of excessive profits may have hurt a little, but 1941 through 1945 brought rapid growth and risk-free guaranteed profits, plus a gamble - successfully achieved - on victory bringing greatly expanded global market access.
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Are we too early seeding the ocean with iron?
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