Global economic volatility and socio-political reactions
Trade and currency wars, financial volatility and economic turbulence are now the most important features of the world economy. The elements of a new international financial crisis are in place. Although we do not know when it will break out, it is unavoidable, and its impact on world economy will be as significant as the 1880s-90s, 1930s-40s and more recent 2008-09 meltdowns.
Nothing will be different in Durban, but in the meantime all the worst tendencies in world capitalism have conjoined to prevent progress on the two main areas of COP17 decisions: financing and technology.