China’s inadequate pension reform may slow growth to 3.9% by 2040, while Germany’s border controls could reduce imports and strain neighboring economies. Meanwhile, the contrasting climate policies of Harris and Trump might lead to significant economic costs if progress weakens, complicating global stability.

Climate risks will drive up disaster costs, leading to higher inflation, economic volatility, and lower growth, while investors face higher risks, lower returns, and a shift in portfolios toward bonds. However, mitigating climate change could lead to a 25% increase in equity prices by 2050, making such action financially beneficial.