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How climate change could hit the global economy
Apr 23, 2021

How climate change could hit the global economy

A new report from Swiss Re, one of the largest insurance companies in the world, contains dire warnings about climate change and how rising temperatures, higher seas, falling crop yields, and wildfires are also likely to cut into global wealth significantly within 30 years. Plus, more details on President Biden's expected proposal to increase taxes on the wealthy. And, a Republican proposal on infrastructure spending.

Segments From this episode

Climate change may quickly affect the global economy, report finds

Apr 23, 2021
Swiss Re, one of the world's biggest insurers, projects that by 2050, climate pressures could reduce the world's GDP by 14%.
Rising temperatures, higher sea levels, falling crop yields and wildfires are also likely to reduce global wealth significantly by 2050.
Samuel Corum/Getty Images

Biden's plans for capital gains tax hikes should not come as a surprise

As Christopher Low, chief economist at FHN Financial, explains, investors have been talking about this possibility for months, and those with very high incomes have already started making portfolio adjustments and rotating stock holdings as a result. That rotation means they’ve sold off stocks to capture the profit and then bought similar holdings. “They took those gains last year, because not only did they expect the capital gains tax increase, they thought it would be retroactive to Jan. 1,” Low said. “So, no, nobody should be surprised by this.”

Music from the episode

North Wing Shingo Sekiguchi

The team

Victoria Craig Host, BBC
Stephen Ryan Senior Producer, BBC
Jonathan Frewin Producer, BBC
Daniel Shin Producer
Jay Siebold Technical Director
Brian Allison Engineer
Meredith Garretson Morbey Senior Producer
Erika Soderstrom Producer
Rose Conlon Producer
Alex Schroeder Producer