Climate-change effects on middle class 'have political implications'

Shanghai

THE middle class in economies around the world will have to bear high costs from the effects of climate change due to damage to their assets.

This will have an impact on the policymaking processes globally as this politically and socially mobile class will seek means and ways to protect their assets.

And South-east Asia may bear the brunt of this impact, with most of the global middle class residing in this region and seeing highest urban population growth in recent years.

These findings were released on Monday here in a white paper published by UBS at the Greater China Conference organ…