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Climate Change May Trigger Global Recession

Earth News: Climate Change

London (AFP) Oct 26, 2006

Climate Change may have an adverse impact on the global economy in the long run and lead to the worst global recession in recent history, a report to be released next week will warn, The Guardian reported on Thursday. Citing comments made by David King, the British government's chief scientific adviser, the newspaper reported that the report by Nicholas Stern, a former World Bank chief economist, will argue that fighting global warming will save industrialised nations money.
"All of (Stern's) detailed modelling out to the year 2100 is going to indicate first of all that if we don't take global action we are going to see a massive downturn in global economies," King was quoted as saying.
"If no action is taken we will be faced with the kind of downturn that has not been seen since the great depression and the two world wars."

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