Climate change could cost the world economy $7.9trn by mid-century as increased drought, flooding and crop failures hamper growth and threaten infrastructure, new analysis showed Wednesday. The conclusions are part of Economist Intelligence Unit's (EIU) Climate Change Resilience Index, which measured the preparedness of the world's 82 largest economies.

The world economy is slowing to its weakest pace since the global financial crisis, as the US-China trade war and other factors like Brexit undercut business confidence and investment, the IMF said Tuesday. It warned that the outlook is beset by risks, and hence raised the possibility of the need for emergency action in the form of “an internationally coordinated fiscal response” if economic growth were to deteriorate further.