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Experts have said that extreme weather poses a huge risk to the world economy and some of the largest cities across the world risk being caught unprepared, CNBC reported.
The increasing population in cities also means higher risks in such places and flood is among the biggest risks for cities. Megacities in Asia are particularly generating the most concern over their ability to tackle major weather events, CNBC reported. Such perils also pose an indirect, but significant threat to business sectors, such as real estate and tourism.