New Delhi, July 8 -- As the US accounts for over a quarter of the world's economic output and well over half the market value of all companies whose shares are listed for public trading globally, it is unsurprising that major policy developments there have the rest of us riveted.

The passing of America's One Big Beautiful Bill (BBB) was no exception.

Given concerns over the distributional effects of this legislation in the US, the world is keenly watching for the political fallout of hard-right approaches as also societal responses to the country's pullback from clean energy in favour of conventional fossil fuels at the cost of climate action.

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