China Daily | Updated: 2021-07-30 07:22 Share CLOSE Firefighters monitor a backfire they lit to stop the spread of the Dixie fire in the Prattville community of Plumas County, California, on Friday. [Photo / Agencies] As extreme weather events are becoming more frequent and damaging around the world, their impacts on the economy should not be ignored. Some researchers predict that if the increase in the global average temperature is not held to well below 2 C above pre-industrial levels by 2050, it will reduce the world's total gross domestic product by 11 percent, and if the temperature rise hits 3.2 C, the loss will be 18.1 percent.