China’s cold wave takes toll on economy

Excerpt from this article:

The worst snowstorm in a half-century is wreaking havoc on China’s economy, destroying crops and livestock, paralyzing transportation and disrupting operations at countless factories and companies.

A senior Chinese official said that the brutal weather conditions, which have claimed at least 60 lives, had caused economic losses of about $7.5 billion over the last three weeks. But analysts said the toll would be much higher.

Beijing-based Anbound Consulting Group estimated that damages would exceed $42 billion.

Meanwhile, the U.N. evidently thinks we should spend $20 trillion in an effort to make global temperatures a fraction of a degree cooler.