Once the world's wettest places, Cherrapunji is getting up to 20% less rain every year - and is suffering water shortages. Residents say their heavenly abode in the clouds is hotter and drier than ever before - and they blame it on global warming. Cherrapunji - or Sohra in the local Khasi language - is located in the West Khasi Hills of India's north-eastern state of Meghalaya. "Never were there very...

Borrowing was both the shaky foundation of global growth and the cause of its collapse. It started with a bust and it ended with an even bigger bust. In between was sandwiched an unsustainable boom. Banks have been humbled. Economists have been found wanting. Geopolitical power began to shift from west to east. That was the noughties that was. It barely seems five minutes ago that policymakers were fretting about the...

Cutting emissions drastically is neither easy nor cheap, so the developed world is looking for scapegoats. As you read this, a deal is possibly being signed at Copenhagen to save the world from climate change. But be very clear. The agreement which the world has waited for is not going to be either an effective deal or a fair deal to reduce emissions in the world. The reason is clear: The...

The recession was less calamitous than many feared. Its aftermath will be more dangerous than many expect IT HAS become known as the “Great Recession”, the year in which the global economy suffered its deepest slump since the second world war. But an equally apt name would be the “Great Stabilisation”. For 2009 was extraordinary not just for how output fell, but for how a catastrophe was averted. Twelve months ago,...

The industrialized countries are cheating the world. A confidential document of the UN Frame Convention on Climate Change secretariat prepared on December 15 shows, contrary to what the rich nations might claim, even if they come true on their current pledges to reduce emissions the world is headed towards a 3 degree temperature rise by 2050, not two degree Celsius – the tipping point. The document, an authoritative assessment by...