INTERNATIONAL POLITICAL ECONOMY

Introduction Since climate change takes several centuries for the effects to be noticed, there has been very little support by national leaders for climate change projects. The international economy has been dogged by controversies relating to the effects that global warming poses to the global economy. Pollution continuously carried out by man has been mentioned by most scholars as a potential cause of global warming. The burning of fossil fuel to power cars has increased the global warming conditions by increasing the emission rates. Friedman (2004) noted that these increasing levels of emission had a negative effect on economic growth. I. Causes of Global Warming A. Human Causes 1. Releasing greenhouse gases 2. Spraying of aerosols 3. Changing land surfaces 4. Depleting the ozone layer B. Natural Disasters Caused By Global Warming 1. Floods mostly those of sporadic nature 2. Monsoons 3. Droughts 4. Torpedoes 5. Tsunamis C. Dealing With Natural Disasters 1. No known prevention strategy currently 2. Contingency strategy where individuals live prepared for any calamity. II. Reactions of Different Countries to The Global Warming Issue Many nations are aware of the global warming issue but they would rather not talk about it, they just wait for it to go away by itself. A. The Reactions of Developed Countries 1. Reducing emissions as a way to mitigate climate change. It has tow components which are currently routed for in the developed counties. The first is the reduction in the consumption levels for instance through a decrease in automobile use. The other component is the efficient use of energy. 2. Enactments of laws that will help curtail global warming. However they seem not to have any real solid plans to cut on the use of carbon (Schelling, 1992). B. Developing Nations’ Reactions They are in a dilemma since they bear the brunt of the effects of global warming such as floods, droughts and other natural disasters. They are not ready to incur expenses so that they mitigate global warming. C. Why Governments Do Not Prioritize To Deal With Global Warming 1. The issue is still under scientific debate 2. It is a national cross boundary issue thus not particular to any country 3. Blame game between the developed and developing countries III. Global Initiatives; The Kyoto Protocol 1. Imposing common sense emission targets 2. Encouraging energy conservation The protocol received very heavy resistance from the developing countries while at the same time harming the economies of the developed countries. However, the achievements of the protocol are not worth mentioning. IV. How Companies React To Global Warming 1. Environmental friendly products by companies 2. Building energy efficient offices V. Alternative Energy Requirements 1. Technological requirements which are currently underdeveloped and in most cases unavailable. 2. Funds; there are limited funds to bankroll the programs. 3. Skills; high skill need thus the mass production is still on hold. It is worth noting that most countries both in the developed and developing world do not have access to the above three requirements for the development of alternative energy. Conclusion The global warming has not been a challenge to the global economic conditions and it will not feature prominently in the global political agenda in the near future. This is due to the confusion that arises as to the scientific realities of global warming and the little acceptance by the developing countries of the global warming mitigation measures. It will only lead to an economic concern if the government buys into the scarce science by enacting bills aimed at reducing global warming. Then, the costs to the producers as a result of the new operating conditions will be passed to the consumers in terms of higher prices and job cuts.