How Intense Heatwaves Are Adversely Affecting Economies

Heatwaves are occurring at abnormal rates worldwide due to climate change, now those weather patterns are even affecting the global economy.

By Joseph Farago | Published

heatwaves global economy

It’s not news that the world is suffering from climate change. One of the most significant effects of the climate disaster is the sweltering heat waves popping up in cities worldwide. As it hurts communities in different pockets of the globe, it also has hindered various nations’ economic standing. If the extreme heat continues, much more destruction will occur.

The United States, Europe, and China suffer from ongoing heat and droughts. As these naturally occurring phenomena drastically affect people worldwide, the economic impact of fighting off the repercussions is just as devastating. Especially in the United States, the current economy is on the brink of collapse. Spending money to fix climate change issues after they happen puts the US in a more substantial deficit. The heatwaves and drought have affected workers and businesses tremendously, putting a halt on the US economy.

The extended heatwaves have been a substantial burden for China’s Sichuan province. Factories in the region have been ordered to close their doors for six days to conserve power. High temperatures affecting the US from coast to coast have been directed to save their electricity, as well. The extreme weather has also made it difficult for shipping vessels to carry cargo. In Europe, ships are having trouble crossing Germany’s Rhine river, a usual delivery route.

Though the heatwave is dying down in parts of the United States, in other places in Europe, the unusual heat rages onward. In countries like Germany, citizens are preparing for the worst. Experts have warned that there’s little the government has planned to help those left vulnerable to the constant high temperatures. The country is hoping for any semblance of rain, which would drop the heat and relieve the country of ongoing drought issues.

The heatwaves and global drought occurrences have substantially affected rivers that are imperative to economic prosperity. The Yangtze, the Danube, and the Colorado river are all bodies of water that support their communities’ economy but have slowly been drying up due to climate change. The disappearance of these rivers would significantly impede these communities living circumstances, from disrupting irrigation systems to halting shipments and deliveries. The global economy is irrefutably affected by droughts due to the imperative nature of rivers and lakes as ports and energy generators.

Though many are afraid of the ongoing heatwaves, environmental experts say that the public shouldn’t be shocked by the extreme weather. Bob Ward, the policy and communications director at the London School of Economics Grantham Research Institute on Climate Change and the Environment, acknowledged that scientists had expressed concern for climate change’s impact for decades. “They’re exactly what we predicted,” Ward stated about the extreme global weather patterns. Unfortunately, this is true; scientists worldwide have warned governments to cut back their carbon emissions or else dangerous outcomes would ensue.

Heatwaves, drought, and unusual weather patterns hurt the people tremendously in the affected areas. If these people are obstructed by weather, the global economy tanks correspondingly. Factories that are shutting down and rivers unable to transport shipments properly all exacerbate economic issues like supply chain interruptions and skyrocketing prices.