The sea levels are rising throughout the coastal regions of the world. This will inevitably lead to a looming economic crisis.
The experts are saying that sea levels are rising on a global level thereby influencing such things as the coastal tides on the shores of major cities. The economic load that has been incurred is even greater.
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Floods will overwhelm these cities which range from New York to Shanghai. Storms are also brewing and will be active within the next ten years or so. Governments could benefit from the report and implement programs to protect costly infrastructure from this environmental damage.
Most of the damage will be greater than the mere rise in sea levels. Take the example of Copenhagen, the capital of Denmark. The rise of merely 4 inches along its coastal waters could lead to expenses of a billion euros.
This is likely to occur by 2050. However, were the current trends to continue, the sea level rise would exceed 8 inches and then the costs due to damages incurred would actually rise to four billion euros.
The problem seems to be that global warming is causing the ice caps to melt from the Andes to the Alps. Even the sheets of ice in Greenland and Antarctica are melting fast.
This has caused coastal waters to rise in a manner never been seen before. The creeping water levels are slow and steady but they will inundate the beaches and shores of the world’s maritime cities in no time if this thing goes on any longer.
The mathematical models that have been simulated by computers and are being used by scientists apply on a worldwide level. They can be used for Tokyo, New York or even Mumbai.
The full ramifications in economic terms for sea level rise could be extensive. Within a century’s time, the sea levels could rise by a full meter. This would wreak havoc and spell womb, doom and gloom on a global level.
Up to 9% of the world’s GDP could be used up in countering the deleterious effects of the rise in sea levels. Seen from the angle of industrial civilization which is hellbent on taking too many risks, the costs are monumental.
However, were the world’s governments to start implementing precautions and plans, these costs could be mitigated. For one thing, the construction of ramparts and coastal bulwarks could be an ideal solution.
Mankind is able to adapt to changing circumstances and so maybe this phenomenon of rising sea levels will be faced squarely and dealt with in a rational and sane manner.
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This study has been published in the journal Natural Hazards and Earth System Sciences.