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Business Arena 03.08

In Wednesday’s episode, our host Sascha Fahrbach started the programme with our main stories which were: the impact of heat waves on the global economy and economic sanctions due to Nancy Pelosi’s visit to Taiwan.

Rising global temperatures and heat waves have had an effect on everything from transportation infrastructure to supply chains to power generation. Scorching temperatures are rippling through food supply chains, disrupting power generation, stressing transportation infrastructure and redefining what “normal” means.

Our guest was Krzysztof Zięba, PhD, Professor at the Faculty of Management and Economics at the Gdańsk University of Technology.

What’s more…

-On Wednesday, China suspended exports of natural sand to Taiwan and halted imports of fruit and fish products from the self-governed island as US House of Representatives Speaker Nancy Pelosi visited Taiwan in a trip condemned by Beijing.

-A bank scandal in China adds to social tensions over finance. Authorities say bankers at five local lenders stole money from depositors. This is shaking confidence in the broader rural lending system. Also there is the recent grassroots boycott on mortgage payments to protest big, overleveraged developers that sold homes and have not finished their projects.

-A fund backed by Bill Gates backs robots to automate solar panel installation. Terabase Energy aims to save costs and tackle labour shortages. A Berkeley, California startup that automates solar panel installation, has raised USD 44 mln in a funding round co-led by Bill Gates’ Breakthrough Energy Ventures.

-Worsening drought drives California water prices to all-time high. The average spot price of water in the state is up 56 pct since the start of the year.

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