Based on current costs and the increasing rate of events of this type, we are spending about 0.3% of global GDP on rebuilding from this type of event, and will

Based on current costs and the increasing rate of events of this type, we are spending about 0.3% of global GDP on rebuilding from this type of event, and will cross 1% by 2035. That may not sound like much, but 5%, which at current rates of increase we could see by 2060, is enough to put economic systems into a death spiral.