: The financial toll of the El Niño phenomenon lingers for years and costs trillions in lost income worldwide, a new research has revealed, reported German news agency .
Researchers at the United States’ Dartmouth College looked at global economic activity in the decades following the 1982-83 and 1997-98 El Niño events, and found a “persistent signature” of slowed economic growth more than five years later. Researchers Justin Mankin and Christopher Callahan project that global economic losses for the 21st Century will amount to US$84 trillion as climate change potentially amplifies the frequency and strength of El Niño.
“We can say with certainty that societies and economies absolutely do not just take a hit and recover,“ Callahan said.
Source: Financial Digest (financialdigest.net)
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