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Many places around the world have seen extreme temperatures this summer. In California, wildfires have devastated an area bigger than New York City, and forest fires have even spread in Sweden's Arctic Circle. On this edition of Business Daily, we hear from farmers in Australia where a devastating drought has gripped an area more than twice the size of Texas, and we meet a farmer in Suffolk in England who is already adapting his crops to cope with the effects of climate change. Manuela Saragosa speaks to Professor Johan Rockstr枚m from the Stockholm Resilience Centre, on what the extreme effects would be if global warming passes beyond a certain temperature increase, and planetary futurologist, Alex Steffen, explains how economies must adapt to cope with these effects.

(Image: A boy plays on a farm in Australia during the drought. Credit: Getty Images)