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What We're Watching: Inflation's impact on energy, climate, and… pasta

Energy price surge + winter = ? Natural gas prices are at all-time highs in Europe. In the US, they've gone to a 14-year peak. With demand from post-COVID economies outstripping supply, and winter coming, bills for heating and electricity could soar — and drive up inflation on both continents. Fears about natural gas have, in turn, caused a run in oil markets, driving crude prices to three-year highs as well. Meanwhile, restrictions on using coal have contributed to blackouts in China, causing some exporting factories there to slow production just ahead of Christmas season, when demand for Chinese-made consumer goods soars. More holiday demand chasing fewer gadgets and clothes would mean higher prices. And then of course there's the question of how to tackle inflation while promoting climate change policies that are meant to reduce emissions…

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After Merkel, who leads Europe?

Carl Bildt, former Prime Minister and Foreign Minister of Sweden, shares his perspective from Europe:

Who's going to be the leading voice politician in Europe after Angela Merkel leaves?

Well, that remains to be seen. First, we need to wait for the outcome of the German election, and then it's going to take quite some time to form a government in Germany to see who's going to be chancellor. And then of course we have elections coming up in France in the spring. Macron is likely to win, but you never know. So by next summer, we'll know more about that. And then there are other personalities there. There's Mario Draghi, prime minister of Italy, who has a strong personality. Mark Rutte of the Netherlands, as long as he's there. So it's going to take quite some time for this to be sorted out.

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How did COVID affect climate, US-China relationship?


On the one hand, UN Secretary-General António Guterres believes COVID has fractured trust between mainly rich and poor countries, especially on vaccines, as the pandemic "demonstrated our enormous fragility." On the other hand, it generated more trust in science, especially on climate — practically the only area, Guterres says, where the US and China can find some common ground these days.

Watch this episode of GZERO World with Ian Bremmer: UN Sec-Gen: Without trust, catastrophe awaits

UN Sec-Gen: Without trust, catastrophe awaits

António Guterres, the United Nations Secretary-General, does not mince words when it comes to the dire state of the world. "We are standing at the edge of an abyss," Guterres warns. COVID is "defeating" the global community and a climate catastrophe is all but assured without drastic action. Amidst this unprecedented peril, there remains a startling lack of trust among nations. And yet, there is still hope. In a frank (and in-person!) GZERO World interview, Ian Bremmer heads to the UN ahead of the annual General Assembly week to discuss COVID, climate, the US-China rift, and the ongoing crisis in Afghanistan.

Does the UN have any actual authority?

76 years after the United Nations was founded, amid an unending pandemic and growing climate and refugee crises, today's UN Secretary-General António Guterres has stark words for member nations: "In our biggest shared test since the Second World War," Guterres says, "humanity faces a stark and urgent choice: a breakdown or a breakthrough." But if something as immediate and catastrophic as a deadly pandemic can't spark a renewal of global cooperation, then what can? On GZERO World, Ian Bremmer explores the question: if the United Nations doesn't have the authority to force its members to take drastic measures to avoid global catastrophes, what is it actually good for? (Quite a lot.)

Watch this episode of GZERO World with Ian Bremmer: UN Sec-Gen: Without trust, catastrophe awaits

UN Secretary-General Guterres has a warning for disunited nations

In a frank (and in-person!) interview, António Guterres, the United Nations Secretary-General, speaks with Ian Bremmer at the UN ahead of the annual General Assembly week. Guterres discusses COVID, climate, the US-China rift, and the ongoing crisis in Afghanistan, and does not mince words when it comes to the dire state of the world. "We are standing at the edge of an abyss," Guterres warns. COVID is "defeating" the global community and a climate catastrophe is all but assured without drastic action. Amidst this unprecedented peril, there remains a startling lack of trust among nations. And yet, there is still hope.

Podcast: UN Sec-Gen Guterres has a warning for disunited nations

Listen: In a frank interview on the GZERO World podcast, António Guterres, the United Nations Secretary-General, speaks with Ian Bremmer at the UN ahead of the annual General Assembly week. Guterres discusses COVID, climate, the US-China rift, and the ongoing crisis in Afghanistan, and does not mince words when it comes to the dire state of the world. "We are standing at the edge of an abyss," Guterres warns. COVID is "defeating" the global community and a climate catastrophe is all but assured without drastic action. Amidst this unprecedented peril, there remains a startling lack of trust among nations. And yet, there is still hope.

Subscribe to the GZERO World Podcast on Apple Podcasts, Spotify, Stitcher, or your preferred podcast platform to receive new episodes as soon as they're published.


GDP should reflect cost of polluting planet, says Microsoft's John Frank

As the 76th UN General Assembly gets underway, dealing with the pandemic is still the top priority for world leaders. But for John Frank, vice president of UN Global Affairs at Microsoft, COVID is not the only major challenge the world faces today.

One of them — included in the UN Secretary-General's new Common Agenda for strong, inclusive pandemic recovery — is a different way to measure economic growth beyond the traditional productivity-led GDP model by taking more into account the cost of pollution, one of the main causes of climate change.

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