The first but strong dose of the effects that climate change will have on global economy gave almost the entire planet this summer. Extreme weather conditions of heat and drought increased production across the board and in many sectors, from major crops agricultural products in the Old Continent to electric vehicles and the whole automotive industry in China.

In the EU, initial estimates show that drought and high temperatures reduced the yield of corn by 16%, soybeans by 15% and sunflowers, from which sunflower oil is produced, by 12%. In the same time agricultural production in the UK, where there is a significant decline in the production of potatoes, onions, beets, apples and hops, raw materials used in brewing. According to the first estimates, the decline in production ranges from 10% to 50% for some types, while potato production, for example, has decreased by 40%. Speaking to the US network CNBC, a carrot farmer in Yorkshire in the north of England – an area that produces 4% of the country’s production – estimated that his production will be reduced by at least 30% this year. And as Alice Whitshalls, an analyst at market research firm Mintec, points out, lower yields lead to higher prices for consumers. Of course, the implications are not limited to accuracy. Livestock keepers in Oxfordshire, southeast England, are reporting that reduced yields of certain foods needed to feed animals have a direct impact on the physical condition of the animals, resulting in lower milk and dairy production and more. it’s all about limiting the rate at which animals reproduce.

In the EU, drought and high temperatures reduced yields of corn by 16%, soybeans by 15% and sunflowers by 12%.

At the same time, however, car production has plummeted in China, the “factory of the world,” as unprecedented heat and widespread drought during the summer months dried up the country’s rivers, including the largest and most commercially important river, the Yangtze. As a result, the production of hydroelectric power was sharply reduced and there were widespread interruptions in the electrification of entire areas, which led to the suspension of large industries. Among them are the manufacturing divisions of Toyota and Foxconn, which were forced to completely stop production, as well as the division of electric car manufacturer Tesla in Shanghai, which faced serious problems in the supply chain due to power outages. The same happened to state-owned Chinese automaker SAIC Motor, while state-owned Changan Automobile announced that its production was cut by 100,000 vehicles in August due to power outages that forced it to close its plant in Sichuan.

After all, Sichuan is home to many enterprises in the production of lithium and polysilicon, materials needed for the production of electric vehicles, batteries for electric vehicles and photovoltaics. According to the first estimates, in August, power outages led to a decrease in lithium production, in particular by 1,250 tons of lithium carbonate production and 3,050 tons of lithium hydroxide production. And, of course, the Chinese authorities have already applied methods similar to those used by many European countries, such as setting an upper temperature limit for air conditioners and turning off lights on city streets.