scholarly journals COVID-19 as a Global Crisis in the New Socio-Economic Reality

2020 ◽  
Vol 10 (513) ◽  
pp. 29-35
Author(s):  
M. I. Chepeliuk ◽  
Keyword(s):  
Economic Growth ◽  
East Asia ◽  
Latin American ◽  
Economic Activity ◽  
Commodity Prices ◽  
Economic Consequences ◽  
Pacific Region ◽  
Negative Consequences ◽  
The Pacific ◽  
The World

The COVID-19 pandemic has become a challenge for the global community and has led to a sharp downturn in the economies of many countries around the world. In January 2020, the IMF said that the world is heading towards a new Great Depression, as there is a trend similar to the situation of the 1920s. Hence, according to forecasts, the rate of economic growth in East Asia and the Pacific region by the end of 2020 will decrease to 0.5% and will reach the lowest level since 1967, being a reflection of the shocks associated with the pandemic. In China, extremely restrictive measures have led to an almost complete halt in business activity in some sectors and regions. China’s economic growth is expected to slow to 1% in 2020. Economic activity in the rest of East Asia and the Pacific region is projected to decline by 1.2% in 2020 and will recover to 5.4% in 2021. The economic consequences of the COVID-19 pandemic have had a detrimental impact on the countries of Europe and Central Asia, with the overall recession to 4.7% as forecasted for 2020. In the Middle East and North Africa, a 4.2% decline in economic activity is forecasted, because of the development of the pandemic and the collapsed oil market. In South Asia, as a result of measures to mitigate the effects of pandemics and collapse of global demand, have sharply fallen the volumes of industry, services and trade activities. The effects of the pandemic and the drastic fall in global commodity prices was a crushing blow for Latin American and Caribbean countries. A sharp slowdown in the economies of U.S. and China has disrupted supply chains to Mexico and Brazil and caused a stark drop in exports from Chile and Peru. The downturn in tourism has also had negative consequences. Such statistics confirm the opinion of many leading scholars in the world that the result of the COVID-19 pandemic will be a decrease in the level of hyperglobization of the world economy. In addition, a move away from U.S.-oriented globalization and a shift toward China-oriented globalization will also be likely.

scholarly journals Analysis of The Effect of Remittance on Economic Growth in Developing Countries East Asia and Pacific Region

Media Trend ◽  
2021 ◽  
Vol 16 (2) ◽  
pp. 162-173
Author(s):  
Firdan Belado Romadona ◽  
Wisnu Wibowo ◽  
Hairul Rahman
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
East Asia ◽  
Random Effect ◽  
Trade Openness ◽  
Random Effect Model ◽  
Pacific Region ◽  
Effect Model ◽  
The Pacific ◽  
Working Age

This study determine how remittances affect economic growth in the developingcountries of East Asia and the Pacific region. The type of data in this study issecondary data with the form of panel data. This research was conducted in the period 2000-2019 in 11 developing countries in East Asia and the Pacific region. This study used Random Effect Model estimation to determine the influence ofindependent variables, namely GDP per capita with dependent variables, namelyremittances, working-age population, FDI, and trade openness. The result showsthat variable remittances and working-age populations positively and significantlyimpact economic growth in developing countries in East Asia and the Pacific region.The estimated results for FDI variables negatively and significantly affect developingcountries economic growth in East Asia and the Pacific region. Estimates for tradeopenness variables have no significant effect on developing countries economicgrowth in East Asia and the Pacific region.

East Asia and the Pacific

1997 ◽  
Vol 3 (2) ◽  
pp. 201-205
Author(s):  
John Fletcher ◽  
John Latham
Keyword(s):  
East Asia ◽  
Economic Performance ◽  
Source Material ◽  
Pacific Region ◽  
Additional Information ◽  
The Pacific ◽  
Formal Definitions ◽  
The World ◽  
Tourism Activity ◽  
The Caribbean

Tourism activity and economic performance, particularly in the major tourism generating countries, are closely linked. The purpose of this section of the journal is to examine some of the trends and indicators relevant to tourism activity in terms of arrivals and spend. Preceding issues have examined five of the global regions plus the Caribbean in turn and provided a database of economic and tourism statistics which may be helpful to researchers of tourism. In this issue, economic indicators relating to tourism in the East Asia and the Pacific region are provided. The main sources of data are statistics provided by the World Tourism Organisation. Formal definitions associated with the tables are often highly detailed and so are not reproduced here. The reader should consult the source material if additional information is required.

Vietnam in the Indo-Pacific Region: Perception, Position and Perspectives

2021 ◽  
pp. 097492842110050
Author(s):  
Nguyen Le Thy Thuong ◽  
Nguyen Thi Oanh
Keyword(s):  
Swot Analysis ◽  
Geographic Area ◽  
Common Interest ◽  
Pacific Region ◽  
Analysis Model ◽  
Common Space ◽  
The Pacific ◽  
The World ◽  
State Behaviour ◽  
Asian Pacific

The Indo-Pacific region is an area adjacent to some oceans and the gateway that connects the great power and small countries to the world; this region is always considered by Vietnam as a key strategic geographic area, having direct impacts on national security, position and its role in this region. While big powers have different perceptions to the Indo-Pacific region, as a country occupying an important geographic position in the Pacific region, Vietnam shares a common vision of an open and rule-based area, and a common interest in maintaining peace, stability and prosperity as well as building a common space for coexistence and development with the belief that the Indo-Asian-Pacific is large enough for every nation to grow and prosper. This article finds out that recent changes in the Indo-Pacific region in geopolitics, economics, security and national defence have made many countries, including Vietnam, to redefine their global and regional policies to refresh their strategic perceptions. Vietnam has its own perception, position, approach and national orientations, which is shaping its state behaviour and perspectives in this geopolitical vibrant Indo-Pacific region. Besides, this article uses the SWOT analysis model to determine the challenges, strengths and weaknesses of Vietnam in the Indo-Pacific region. Moreover, while the future of the Indo-Pacific in a post-COVID-19 pandemic world remains filled with uncertainty and economic challenges, the crisis also presents an opportunity for Vietnam to re-evaluate its position. Today, Vietnam always maintains its foreign policy of independence, self-reliance, multilateralism and diversification of international relations, which attaches great importance to enhancing multi-faceted cooperation with countries in the Indo-Pacific region. Thus, with its own perception and geostrategic advantage, Vietnam—a developing country in the region and in the world with relatively stable economic growth, pursuing rules and order will be a positive factor for a stable, peaceful and prosperous development in the region.

scholarly journals The Rise of Container Tonnage and Port Developments in East Asia

2015 ◽  
Vol 1 (2) ◽  
pp. 189 ◽  
Author(s):  
Mariner Wang
Keyword(s):  
Economic Growth ◽  
International Trade ◽  
East Asia ◽  
Container Terminals ◽  
The World ◽  
Substantial Investment ◽  
Huge Impact

1990’s saw the robust expansion of international trade in East Asia generating a remarkable record high and sustained economic growth unmatched by any other region in the world. In line with this, container tonnage in the region has been ever increased annually. In light of this, the governments in the main ports of the region have plunged substantial investment in expanding and developing new container terminals to cope with the ever increased cargoes out/to the region. Though Lehman Shock in 2008 has given a huge impact on the container volumes in Asia, ports in the East Asia are seen to continue to handle the lion’s share of global container business. In 2013, the container throughput of East Asia accounted for 51.2 per cent out of that of the world, becoming the world container center.

scholarly journals THE BASIC FRAMEWORK FOR THE IMPLEMENTATION OF THE GREEN ECONOMY MODEL IN THE BUSINESS PROCESSES OF THE FOOD INDUSTRY

2021 ◽  
Vol 7 (167) ◽  
pp. 28-33
Author(s):  
S. Burlutska ◽  
D. Krasovsky
Keyword(s):  
Economic Growth ◽  
Management System ◽  
Human Life ◽  
Renewable Energy Sources ◽  
Developed Countries ◽  
Green Economy ◽  
Economic Science ◽  
Growth Strategies ◽  
Negative Consequences ◽  
The World

At present, the totality of global environmental and economic threats and challenges has put the world economic science in front of the need to find a new way of developing the world economy. The new model of economic growth must satisfy two main criteria: firstly, to find a qualitatively new direction of growth, and secondly, to ensure the preservation and improvement of the quality of the environment for human life, that is, to ensure new economic growth without negative consequences for the environment. Many modern scientists see the solution of these problems in a relatively new direction in the economy, which has existed for just over 30 years - the "green" economy. Their opinion is shared by leading politicians and civil servants of the world's economic powers. The directions of the "green" economy system are considered: introduction of renewable energy sources; improvement of the waste management system; improvement of the water resources management system; development of "clean" transport; organic farming in agriculture; energy efficiency in housing and communal services; conservation and effective management of ecosystems. As a result of the analysis, key ones were identified directions in which the green economy is moving, systematized basic support tools that divided into price and non-price, in more detail characterized by price with the separation of financial tools that experts focus on international organizations for sustainable development. The main elements of the state are defined green growth strategies and analyzed the situation harmonization of the influence of developed countries on the development of "green" economy. An understanding of the essence and description of the goals of "green" technologies is proposed, which implies work not with the consequences, but with the causes of environmental problems. Considered the "green" experience of developed countries and global companies. In conclusion, the author emphasizes that the concept of a "green" economy is an innovative development project, but to achieve sustainability it is necessary to use the experience of other companies. One of the main problems was noticed, this is the use of pseudo environmental friendliness by companies for their own commercial purposes.

scholarly journals Mitigating the Effect of Covid-19 on the Society Through the Islamic Social Finance

2021 ◽  
Vol 2 (1) ◽  
pp. 57-61
Author(s):  
Ibraheem Alani AbdulKareem ◽  
Mohd Sadad bin Mahmud ◽  
Moses Elaigwu ◽  
Abdul Fattah Abdul Ganiyy
Keyword(s):  
Economic Activity ◽  
Economic Consequences ◽  
Poverty Eradication ◽  
Social Wellbeing ◽  
The People ◽  
Major Burn ◽  
The Social ◽  
The World ◽  
The Government ◽  
Daily Wage

As at the end year of 2019, the Covid-19 pandemic outbreak had caused an unparalleled human crisis around the world. The disease is causing not just a health problem but also economic crisis. Numerous countries fell into meltdown and more people fell into poverty. The government may not be sufficiently able to take the economy back to its track. The concentration has now moved from the spread of the virus to the economic consequences it will bring to the community. The lack of production will lead to the deficiency of supply and therefore will end as loss of employment and jobs for a large number of people around the globe. The most significant sections of our society are SMEs and daily wage will bear the major burn of the crisis. Therefore, Islamic social finance, incorporating zakat and waqf, has to be adopted to address the Covid-19 pandemic crisis. Zakat and waqf are commonly practised in Muslims countries majority. Zakat and waqf function show the possibility and economic advantages of zakat and waqf properties for people’s prosperity. Moreover, zakat and waqf can be utilized to fill financial gaps and can likewise be utilized to create social wellbeing. This study explores the application and potential of zakat and waqf institutions for the social wellbeing of the people and economic development during and after Covid-19 pandemic. The study reviewed past studies on the potential of zakat and waqf as an alternative way for social development and economic growth. The study, therefore, observed that zakat and waqf institutions can improve economic activity through zakat and waqf properties use for various purposes such as health services, infrastructure, SMEs, poverty eradication and education. 

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