FT News Briefing The economic impact of extreme heat
5 snips
Jul 31, 2023 Japan’s central bank is loosening bond controls, sparking investor interest amid rising inflation. Meanwhile, China is rolling out targeted economic measures to stimulate growth. The discussion delves into the dire economic impacts of extreme heat on construction and agriculture, emphasizing the urgent need for these industries to adapt. Additionally, concerns about worker safety are raised, highlighting the lack of protections against hazardous temperatures. Strategies to mitigate heat-related risks are also explored.
AI Snips
Chapters
Transcript
Episode notes
Bank of Japan Policy Shift
- The Bank of Japan's move to allow bond yields to rise is a significant shift.
- This has caught the attention of global investors and could impact markets.
China's Targeted Stimulus
- China is increasing economic stimulus, but more cautiously than in the past.
- They are targeting specific sectors instead of broad-based stimulus.
Economic Impact of Extreme Heat
- Extreme heat negatively impacts worker productivity and increases accidents.
- Industries like construction and agriculture are particularly vulnerable.