scholarly journals Eight New Challenges Faced by Global Economy

2021 ◽  
Author(s):  
Zhang Yuyan

Due to COVID-19, the world has experienced the most severe economic recession since the Second World War. Some "unconventional" monetary policies have been enforced in order to stimulate the economy, and their effectiveness is positively regarded by the IMF. However, this paper identifies two negative effects of these measures. Firstly, they exacerbate policy instability; secondly, they will be detrimental to the fundamentals of monetary policies in the long term. In addition, the world economy is also confronted with many challenges, including global inflation expectations, the trends of dollar as a currency, restructuring of global supply chain, volatility of asset prices and commodity prices, and global and regional governance.

2021 ◽  
Vol 39 (7) ◽  
Author(s):  
Nina Avanesova ◽  
Viktoriia Vovk ◽  
Natalia Reshetniak ◽  
Nataliia Volosnikova ◽  
Yuliia Yehorova

The state and tendencies of COVID-19 influence on the economic situation in the world are studied and the socio-economic losses suffered by the world economy during the pandemic are analyzed. The entire world community, starting in mid-December 2019, has come under the enormous influence of the World Coronavirus Epidemic, called COVID-19. The pandemic caused by this virus has already caused thousands of casualties around the world, imposed significant restrictions on the socio-cultural life of the population and radically changed the trends of the global economy. Today, it is difficult to predict what final human casualties and economic losses will be suffered by states in the short, medium and long term. However, it is important to consider individual economic development forecasts and measures selected by the governments of the world's leading countries to overcome the negative effects of the COVID-19 pandemic. This will allow to form a real vision of the possible course of economic processes that will directly affect the level of socio-cultural life of the population.and the real measures taken to stabilize the financial and economic situation at the micro and macro levels.


2020 ◽  
Vol 12 (515) ◽  
pp. 39-46
Author(s):  
N. G. Kalyuzhna ◽  
◽  
T. K. Kovtun ◽  

The article focuses on identifying and systematizing the hallmarks of the COVID-19 recession as unprecedented in terms of the both spread and impact on the global economy in the phase of business activity downturn. The dynamics of the main indicators of economic growth are researched and it is substantiated that the negative linear forecast trends allow forecasting the long-term recovery period after the current global recession. It is shown that the global recession of 2020 negatively affects the prospects for the recovery of major national economies of the world, given the high probability of the introduction of repeated quarantine restrictions. Based on the analysis of the dynamics of the index of global economic uncertainty, the world economy is confirmed to be in the most uncertain state during the period of observations. According to the analysis of the values of the barometer of world trade in goods in 2020, negative changes in the structure and dynamics of foreign trade turnover and doubt for the rapid recovery of global supply chains were evidenced. Based on the generalization of the results of the study, key distinctive signs of the COVID-19 economic recession have been systematized justifying that, in addition to any recession inherent in the loss of growth rate of world production, the current economic crisis is accompanied by a drop reaching the critical deadlines of a number of indicators of the intensity of global development, which confirms its unprecedented spread and impact on the world economy. It is substantiated that the confirmation of the determined trends allows to predict the long-term negative consequences of the modern global recession, which leads to the need to substantiate the directions of recovery of the world economy and foreign trade cooperation of the countries under crisis conditions.


Author(s):  
Mavhungu Abel Mafukata

The main objective of this paper is to predict the consequences of China's impending economic crisis on global economy – with reference to Sub-Saharan Africa (SSA) in particular. The specific objective of this paper is to investigate and explore the increasing dominance of economic practice of China in SSA. China is a critical principal player in the economy of SSA. China's influence and dominance of the SSA economy might have negative effect on SSA in case of any implosion of the Chinese economy. Data were collected from print and electronic sources extracted from the vast body of empirical scholarship of different disciplines on China in SSA.  The results of this paper revealed that China is indeed dominating the economy in SSA. Pointers are that China's economic implosion would have consequences for SSA in the same way as the 2008-2009 global economic recession had around the world. This  paper positively predicts that China's economic and financial implosion remains a possibility, and would impact on SSA.


Ensemble ◽  
2021 ◽  
Vol SP-1 (1) ◽  
pp. 30-34
Author(s):  
Somenath Halder ◽  
◽  
Sourav Paul ◽  

The present study seeks to find a reliant philosophy of development in the post COVID-19 times to come. Since being contiguous, the Novelcoronavirus has switched almost every human activity uncertain all over the world. Rather the health emergency in this pandemic has strangled human existence on this planet which every country and government are fighting against. Like many others, global economy and development are under severe threat that tend us to chalk out a theorem to be mechanized for bringing the global village back into normalcy. The paper delves deeper to establish a connection of development with wellbeing, keeping human resource at the center of significance. It also measures the interrelation of wealth, economy and development with human resource and suggests a balanced prioritization of the same in terms of accelerating Gross Domestic Product (GDP). As the future after COVID 19 will not be the same like before, even after the pandemic being over, the proposed theorem tries to contemplate the global economy with a new outlook of long-term development.


2020 ◽  
Vol 5 (1) ◽  
pp. 1 ◽  
Author(s):  
Tri Haryanto

COVID-19 pandemic has become a global issue. Many experts predict that this pandemic will cause global economic growth to decline this year, or even the global economic recession. All efforts conducted by many countries in the world massively to prevent its spread such as social distancing, self-isolation, and similar actions to lockdown may have a major impact on tourism demand in many countries. The next section sequentially will discuss a brief review of the role of international tourism on the economy, the impact of the COVID-19 pandemic on the global economy and international tourism, and further research topics for the next edition.


2020 ◽  
Vol 8 (11) ◽  
pp. 42-68
Author(s):  
Md. Ali Ahosan Habib ◽  

The cycle industry, M & U Cycles Ltd is a sister concern of Meghna group was established in 1982 in Gazipur, Dhaka. At Present 600 nos. or above worker works in this M & U Cycles industry. In The Last year from this M & U Cycles industry total 1, 30,000 Pcs bicycle assembled/produced and exported to different countries.The Product of Bicycle which exports from Bangladesh has great opportunities to earn foreign exchanges i.e. foreign currency can be used to develop this country. Now a Days, as per we know the total annual turnover of M & U Cycles Ltd only from export 30 million USD per year .Thats why this is great opportunities by exporting bicycle from Bangladesh.While my study for preparing this internship report it seems to me that particular sector (Bicycles) is very much facing the financial problem. The loan interest rate is too high for the sector to accomplish export processing, and also that sector is very much depended on import of raw materials. It seems to me that M & U Cycles Ltd, is always try to get their sustainable growth in the competitive market. In very recent time the government of Bangladesh has taken some significant decision to face the situation of economic recession. The governments takes a package of Tk 25000-30000 crore in order to priorities protection of the export oriented industries, agricultural growth, employment generation and social security to offset the negative effects of the global economic crisis. They also recommended creation of an export stabilization fund, retention and skill development for returning migrant workers, infrastructure development and simplification and streamliner of rules and procedures to help entrepreneur. According to IMF gradation, Bangladesh ranked as the 48th largest economy in the world in 2008. The economy has grown at the rate of 6.7%. The Bicycles industry sector must be played a very significant role there. In spite of economical recession of the world as well as in the country, M & U Cycles Ltd is one of the participators of earning foreign currency in Bangladesh. In the package are also measures like adoption of effective steps to provide necessary scope and facilities to workers and employees to perform social responsibility by management to fulfill compliance with standards set by the foreign buyers, reducing import dependence through ensuring supply of quality local raw materials in production of Bicycle exports.


2015 ◽  
Vol 20 (58) ◽  
pp. 121-128
Author(s):  
José Félix García Rodríguez ◽  
Luis Arturo Méndez Olán

RESUMEN: La gestión empresarial, entendida como la actividad emprendida con el propósito de mejorar la productividad y la competitividad, así como asegurar la sustentabilidad de la empresa, enfrenta importantes retos y desafíos. Por un lado, la actividad empresarial debe desarrollarse en el entorno de la economía global, caracterizada por el libre comercio de bienes y servicios, así como la libre circulación de capitales financieros. Por otra parte, la libre circulación de capitales es el principal determinante de una amplia volatilidad e inestabilidad en los mercados financieros globales, lo que ejerce una gran influencia sobre la situación económica de un país y su actividad empresarial. Ello quedó plenamente demostrado con la crisis económica y financiera de 2008, cuyas consecuencias recesivas aún se manifiestan en la mayoría de los países del mundo. Así, como consecuencia de la recesión económica de 2008, millones de personas en todo el mundo perdieron sus hogares y sus empresas, y muchas de ellas se empobrecieron. No era eso lo esperado en el mundo de los negocios y las finanzas. La teoría económica neoliberal, con su fe en el libre mercado y en la globalización, había prometido prosperidad para todos. Se suponía que la Nueva Economía, con sus sorprendentes innovaciones financieras -como son la desregulación y la ingeniería financiera- traería consigo el fin de los ciclos económicos, crecimiento y bienestar. Si en el mundo desarrollado las consecuencias fueron desastrosas, en América Latina provocaron una verdadera emergencia económica y social. ABSTRACT: The business management, understood as the activity undertaken in order to improve productivity and competitiveness, and ensure sustainability of the company, faces significant challenges and challenges. On the one hand, businesses must develop in the environment of the global economy, characterized by free trade in goods and services and the free movement of financial capital. Moreover, the free movement of capital is the main determinant of a wide volatility and instability in global financial markets, which exerts great influence on the economic situation of a country and its business. This was fully demonstrated by the economic and financial crisis of 2008, whose recessionary consequences still evident in most countries. So, as a result of the economic recession of 2008, millions of people around the world lost their homes and businesses, and many of them were impoverished. That was not expected in the world of business and finance. The neoliberal economic theory, with its faith in free markets and globalization, had promised prosperity for all. It was assumed that the New Economy, with its surprising, as financial innovation and deregulation are financially engineering would bring to business cycles, growth and welfare. If I developed were disastrous in the world, in Latin America provoked a genuine economic and social emergency.


2020 ◽  
Vol 174 ◽  
pp. 04021
Author(s):  
Elena Kazantseva ◽  
Natalya Osokina ◽  
Galina Chistyakova

In recent decades, raw materials companies occupy leading positions in world ratings, largely determining the economic situation of their home countries. The rapid growth of digital companies’ position in the global economy does not detract from the role of raw materials production, which develops using modern technologies and adheres to the principles of sustainable development. The paper analyzes the position of leading foreign and domestic raw materials companies in the world rankings; examines the features of mining regions functioning, in particular, coal mining regions (on the example of the Kemerovo region, Western Siberia, Russia), and the prospects for their long-term development. Proposals for long-term development of coal mining regions are formulated.


Author(s):  
Martin Daunton

The World Trade Organization emerged from the Uruguay Round of 1986 to 1994 and covered development as well as trade—an ambition that had been attempted after the Second World War and the abortive attempt to create an International Trade Organization. Instead, a narrower General Agreement on Tariffs and Trade emerged. The failure of the International Trade Organization arose in part from the different ambitions of less developed or primary producing countries that were not acceptable to advanced industrial countries. The General Agreement on Tariffs and Trade faced continued pressure from the less developed countries, in particular from the United Nations Conference on Trade and Development which put forward a different approach to the global economy and issues of distributive justice. This chapter explains the different approaches and the responses of the more advanced countries.


2021 ◽  
pp. 6-25
Author(s):  
Anna Lapteva ◽  
Tatiana Mustafa ◽  
Anastasia Smolnikova ◽  
Aleksandra Chernova

The paper analyzes implications of ferromanganese nodule mining and copper, nickel, cobalt and manganese production for their land-based producers. Potential scenarios are considered for consumption development, onshore production and long-term development of these metals’ mineral bases through 2035. It is shown that each metal market could be undersupplied over this period; this shortage can be offset by deepsea production. However, conditions and deficit emergence for various metals vary greatly. As a result, coincidence of nodule mining with the earliest deficit signs in the remaining markets will lead to oversupply, which will negatively affect onshore production, new mining and exploration projects; this will also reduce profitability of deepsea mining even making it uneconomic. It is not until 2030 that nodule mining involving copper, nickel, cobalt and manganese production can be implemented with no negative effects for market players.


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