Climate change is here

The heat scientists have warned about is already here [View in browser]( [Bloomberg]( The combination of an unprecedented lack of rainfall and record-high temperatures gripping southwestern Europe for the second straight year had been projected by scientists – for 2043. The heat they warned about is already here. It’s a sign of what’s coming elsewhere in Europe and much of the world, and if greenhouse gas emissions aren’t reduced, it could be the new normal. Asia too has been suffering unprecedented heat. Key Reading: - [Europe’s Drier Future Means More Battles Over Scarce Water]( - [Searing Summer Temperatures Forecast in Europe and Northeast US]( - [Deepening Drought Forces Europe to Accelerate Climate Adaptation]( - [How Extreme Heat and Humidity Test Survival Limits]( - [Brutal Heat Tightens Grip on Asia in Warning for Summer Ahead]( In Europe, Spain is ground zero, with competition for increasingly scarce water resources sparking fights among farmers, environmental activists, local politicians and the central government. Much of the fruit and vegetables available all year round in supermarkets across the continent are grown in giant greenhouses in the country’s southern desert region of Almería. Now that is under threat, as reservoirs and canals run dry. In an attempt to preserve the little water that’s left, the government in Madrid is limiting supplies farmers can use for irrigation. Agribusinesses face tough choices, from leaving large swaths of land unplanted to – in some cases – digging illegal wells that further deplete aquifers. Elsewhere in Europe, leaders are trying to take action before it’s too late. Italy has set up a special unit on drought led by Deputy Prime Minister Matteo Salvini and France has a new target to cut water consumption 10% by the end of this decade. The continent has warmed nearly twice as fast as the rest of the world over the past three decades, resulting in losses in freight passage from record-low river levels, lower electricity output from hydro and nuclear power, and drought-driven crop failures. For much of Europe, the long-predicted future impact of climate change is now.— [Laura Millan]( Farmer José Manuel Rodríguez irrigates his fields in Letur using water from ditches dug more than a thousand years ago by Muslim rulers of the Iberian Peninsula. Photographer: Maria Contreras Coll/Bloomberg Listen to our Twitter Space discussion on the [scorching heat]( that’s testing the ability of governments to protect public health and prevent disruptions to recovering economies. [Sign up]( for the new Bloomberg Washington Edition newsletter delivered weekdays. And if you are enjoying this newsletter, sign up [here](. Global Headlines Group of Seven nations aim to send a signal to China this month by announcing a joint effort to counter “[economic coercion](.” But officials are struggling to agree on tangible measures and are still wrangling over how tough to be in their messaging to Beijing, particularly on specific tools that could be deployed against it, sources say. - The US is trying to make it hard for China to say no to engagement by seeking a flurry of meetings and phone calls. Sources say the strategy is [aimed at easing tensions]( and painting President Xi Jinping as recalcitrant if he refuses. A US debt default would drag America into recession and [spell trouble]( for the entire world, President Joe Biden said, as he sought to heighten pressure on Republicans to strike a deal raising the debt ceiling. His remarks came a day after a meeting with congressional leaders made little headway. - Former President Donald Trump urged Republicans to either [extract concessions]( from Biden to reduce spending or push the US into its first-ever default. Mayor Eric Adams temporarily [suspended some rules]( requiring New York to shelter asylum seekers as a surge in migrants strains resources. The decision comes about a week after officials learned that the Federal Emergency Management Agency gave the city less than a 10th of the $350 million it had requested to help tackle the influx of migrants. Armed with more than $30 billion [in weapons]( freshly supplied by its allies, Ukraine is gearing up for a counteroffensive that may push Russia closer to ending its war, or show that neither side has enough firepower to seize the advantage. As [Marc Champion]( reports, Kyiv’s troops will depend on that arsenal to try to retake occupied territory. The question is whether it’s enough. - A top adviser to Luiz Inacio Lula da Silva met with Ukrainian President Volodymyr Zelenskiy in Kyiv yesterday, as the Brazilian president [continues]( to push for an end to Russia’s war. Best of Bloomberg Opinion - [The Hole Where Britain’s Ambition Used to Be: Matthew Brooker]( - [AI Music Brings the Sound of Scammers to Spotify: Lionel Laurent]( - [Which Is Worse, Insider Trading or Espionage?: Shuli Ren]( Pakistan’s government called in the military to help quell [violent protests]( after former premier Imran Khan was arrested. At least seven people have been killed and scores more injured in clashes with security forces in the past two days. Prime Minister Shehbaz Sharif accused protesters of “an act of terrorism” in a televised speech yesterday. Pakistan Tehreek-e-Insaf party activists and Khan supporters clash with police yesterday. Photographer: Aamir Qureshi/AFP/Getty Images Explainers You Can Use - [What’s the Debt Ceiling, and Will the US Raise It?]( - [‘Nearshoring’ Push Is Fueling Tech Job Demand in Latin America]( - [Surveillance Company Turns Ad Data Into Government Tracking Too]( Graffiti protesting a law to punish criticism of the Thai monarchy is the latest example of broader transformation in Thailand, as a new generation challenges the conservative political establishment. The wave of [royal skepticism]( has found a home in Move Forward, the mainstream group calling for changes to Article 112 to allow greater freedom to discuss the monarchy that’s been surging in the polls ahead of Sunday’s general elections. Tune in to Bloomberg TV’s Balance of Power at 5pm to 6pm ET weekdays with Washington correspondents [Annmarie Hordern]( and [Joe Mathieu](. You can watch and listen on Bloomberg channels and online [here](. News to Note - Trump [refused to concede]( his 2020 electoral loss in his first interview on CNN since 2016, maintaining a stance that Republicans say risks their efforts to retake the White House. - Israel and Palestinian militants in the Gaza Strip [traded fire]( into a third day today, with rockets and airstrikes defying international efforts to secure a cease-fire. - German Chancellor Olaf Scholz agreed to [speed up asylum proceedings]( to deport illegal migrants and enable better integration of those allowed to stay as Russia’s war against Ukraine triggers a new refugee wave in Europe. - Costa Rica’s days of living beyond its means and running up reckless amounts of debt are over, according to President Rodrigo Chaves, whose [fiscal turnaround]( is winning over currency and bond traders. - US Congressman George Santos was released on a $500,000 bond after being arrested on [fraud and money-laundering charges](, as the embattled Republican from New York comes under increasing pressure to resign. And finally ... A Chinese-born chemist was convicted in the US for the heist of industrial technology involving the inner linings of Coke cans worth $120 million. [Drake Bennett]( and [Jordan Robertson]( report on a case that shines a [light on a threat]( Western counterintelligence officials have long warned of: Chinese grant programs that encourage scientists to steal trade secrets from foreign companies. Shannon You, convicted of wire fraud and trade theft, being interviewed by the FBI. Source: United States District Court Eastern District of Tennessee Follow Us Like getting this newsletter? [Subscribe to Bloomberg.com]( for unlimited access to trusted, data-driven journalism and subscriber-only insights. Want to sponsor this newsletter? [Get in touch here](. You received this message because you are subscribed to Bloomberg's Bloomberg Politics newsletter. If a friend forwarded you this message, [sign up here]( to get it in your inbox. 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