Earlier this month the Washington Post published an article describing the economic costs of El Nino based on research published in Science magazine. The research showed that the most recent strong El Ninos cost the global economy on the order of $4 trillion in losses to agriculture and other sectors of the economy. Since we are headed into what will probably be a strong El Nino later this year, that means there could be some economic impacts of the transition to El Nino that will deal a blow to the global economy. Some studies indicate that El Ninos may become more frequent as the earth gets warmer, but there is some disagreement on this. You can read more about the new study at https://www.washingtonpost.com/weather/2023/05/18/el-nino-economic-impact-climate-change/.
