by Dan Steinbock, Difference Group
If America does withdraw from the Paris climate agreement, emerging Asia will pay the highest price.
As I left Manila recently, tropical storm Isang passed the Batanes area in northern Philippines. When I flew to Guangzhou, the low-pressure area morphed into a tropical depression southeast to Taiwan and then into a typhoon in the South China Sea. On August 23, Hato’s eye was directly over Hong Kong as rapid intensification turned it into a category 3-equivalent typhoon. Days later, Hato had left behind 26 people killed, and damages amounting to $1.9 billion in mainland China.
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