Word: globalization
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...clearly harder to kick than governments pretend. Observers note that the borrowing kick has already lifted French public debt to nearly 80% of GDP - a level that Germany is within shouting distance of, and which Italy, Belgium and Greece are well beyond. (See pictures of the global financial crisis...
When President Obama hammered out an agreement with leaders of China, India, Brazil and South Africa in the waning hours of the U.N.'s climate-change summit in Copenhagen in December, they saved the long-running global-warming negotiation process from total disintegration...
Taken at face value, the accord pledges demonstrate an international will to act on global warming and energy, even in the absence of a true international treaty. "All the major economies are off and running," says Keya Chatterjee, acting director of the U.S. World Wildlife Fund's climate-change program. (See the World Future Energy Summit...
...that's the optimistic view. The reality is that even though governments at Copenhagen agreed to keep global temperatures from rising more than 2°C this century, the carbon-emissions cuts they've promised are not nearly steep enough to achieve that goal. And while tens of billions of dollars have been pledged to help developing nations cut carbon and adapt to climate change, the mechanism for delivering that money isn't clear...
...month and a half after Copenhagen, the world finds itself in much the same place it has been for over a decade, still talking about the need to strike a grand global climate bargain. "It's fair to say that Copenhagen did not produce the full agreement the world needs to address the collective climate challenge," UNFCCC executive secretary Yvo de Boer told reporters on Jan. 20. "The window of opportunity to come to grips with the issue is closing at the same rate as before." At a minimum, the response to the Copenhagen Accord showed that the most powerful...