African countries will suffer significant economic loss after 2050 if global warming is not limited to below 2°C, a new study by the Center for Global Development has found.
How this will happen is that climate change will drive agricultural production down, so crop sales will suffer although scarcity will raise prices. You project a long term Africa-wide gross domestic product decline of 7.12%. What impact will this have? When we speak of the long term, we are looking at 2050 and beyond. GDP tells us the wealth status of economies at any point in time. Through wealth creation, businesses emerge and jobs are created. Taxes collected pay for infrastructural investment, investment in social services and provision of social support like health insurance and unemployment insurance. With a 7.
For the people of Africa, this is very significant because it is predicted that in the coming years, the continent’s population will reach over 2 billion. The African population is the world’s most youthful. So if African economies shrink, where would those young people find their source of livelihood? That is a great concern.
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