Next refugee crisis will be caused by environmental disasters

The next big migration wave won't be caused by war or hunger. It will be caused by environmental disasters. People will be fleeing cities and countries to escape environmental pollution that makes life short, sick, and unbearable.

The global consequences of environmental disasters are enormous for everyone, including for investors in global markets. For the countries most affected, this massive migration wave will undermine economic growth, property values, and financial asset valuations — a risk investors must factor into their calculations when they buy into financial and real estate assets in highly polluted countries.  Like China, India, and Pakistan – which already suffer from high pollution rates.

Pakistan’s economic growth would, for instance, be much lower if it was adjusted by the “negative externality” created by pollution; and so would be its equity markets.

World’s ten most polluted countries:- 1. Pakistan; 2. Qatar  3. Afghanistan ; 4. Bangladesh; 5. Iran; 6. Egypt; 7. Mongolia; 8. United Arab Emirates; 9. India; 10. Bahrain Environmental refugees aren’t new in history. The historic record is littered with examples of environmental disasters that caused mass population movements, as graphically described by Jared Diamond in Collapse.

What's new is that these disasters aren't caused by ignorance any more. Instead, they’re caused by greed and failed government policies.

In China and India, for instance, environmental disasters are caused by corruption and cronyism fostered by cosy relations between governments, business managers and labour unions.