According to Jimmy Diam, CEO of JB Morgan Chase, the world and American economies may experience a recession by the middle of the year, according to CNBC on Monday. According to the network study, Diam listed probable recession indications such as erratic inflation, sharply rising interest rates, the Russian invasion of Ukraine, and the undetermined effects of the Federal Reserve’s (US Central Bank) quantitative easing strategy.
The United Nations and the Red Cross have warned that there are full regions in the world that will be unsuccessful in the coming years due to the heat waves that are increasing.
The two organizations also indicated in a report that the heat waves may reach or even overcome the “physiological and social boundaries” of the human being in the coming years due to the current development of the climate, and it may “cause wide suffering and the loss of lives”, especially in the Sahel and the Horn of Africa, South Asia and Southwest Asia .
The disasters of the heat waves this year in countries such as Somalia and Pakistan warn of a future that witnesses more deadly and frequent humanitarian emergencies, according to the report.
The report said that there are clear limits, after which people who are exposed to extreme heat and moisture cannot “survive”, adding that there are levels of extreme heat that are practically impossible for societies to adapt to them.
He warned that the combined effects of aging, climate warming and urban expansion may lead to a significant increase in the number of people at risk in developing countries during the coming decades.
The report pointed out that the rates of future deaths expected from extreme heat are shockingly high, compared to the size of deaths from all types of cancer and all infectious diseases by the end of the century.
Martin Griffiths, director of the United Nations Office for Humanitarian Affairs Coordination, said: “As the climate crisis continues to be exacerbated, severe climatic events such as heat waves and floods are the most fragile people.
The Secretary -General of the International Federation of Red Cross and Red Crescent Societies, Jagan Shabagin, called on the countries that will meet at the Conference of the Parties on the Climate “COP 27” in Egypt in 2022 during the period from 7-18 November, to invest in adaptation with climate transformations and mitigate its effects in the most areas Vulne at risk.
The issue of climate change also comes at the forefront of the challenges currently facing the world, after it has been proven by scientific evidence that humanitarian activity since the industrial revolution and until now has caused, and still, in severe damage suffered by all countries, societies and sectors of economic activity, which requires an urgent collective move towards reducing emissions Climate changing with work in parallel to adapt to the negative effects of climate change.
The United Nations Office for the Coordination of Humanitarian Affairs and the International Federation of Cross and Red Crescent Associations has put forward major steps to help combat the severe heat waves, including ..
1- Providing early information to help individuals and authorities respond in a timely manner,
2- Finding new ways to finance procedures at the local level.
3- Humanitarian organizations test more shelters “thermally appropriate” in emergency situations and “cooling centers”,
4- Urging local communities to change their development planning to observe the potential effects of the extreme heat.
The three most important American indicators are all falling, and the Standard & Poor’s 500 index has lost 24% so far.
Dayyon urged investors to get ready for an economic “storm” earlier this year in response to JB Morgan, the biggest investment bank in the US, making a remark about share repurchases in July.
David Malabas, president of the World Bank, and Crystalina Georgiva, director of the International Monetary Fund, both expressed concern about the growing likelihood of a global recession and noted that inflation has been an issue since Russia’s invasion of Ukraine.
JB Morgan issues a six- to nine-month recession warning.
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