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Like national recessions, a consensus on the definition of a global recession has yet to be reached. The World Bank’s main indicator of a worldwide downturn is multiple major countries’ economies contracting at the same time, as well as other evidence of weak global economic growth.
This round-up explores 10 articles from the World Economic Forum on key economic terms and theories. As the effects of inflation are felt around the world, these articles will help you understand the driving forces behind the global economy and the impacts on your finances.
“Overall, most gig workers are satisfied with their job and working for gig economy platforms appears to reflect mainly voluntary choices rather than the lack of other options,” that paper says. “However, a significant minority of platform workers – around 20% – uses platforms because they are not able to find work as dependent ...
Emerging economies have seen their share of total global trade rocket in recent years. China, for instance, is now responsible for 15% of all world exports. Unfinished goods, components and services account for 70% of all trade. While trade in services accounts for two-thirds of global GDP, COVID-19 has had a devastating impact on trade patterns.
What is economic competitiveness? There are actually a number of definitions out there. The World Economic Forum, which has been measuring competitiveness among countries since 1979, defines it as “the set of institutions, policies and factors that determine the level of productivity of a country”.
Here's how we can double the size of the circular economy in ten years; Why the circular economy is the business opportunity of our time; 5 reasons to shift from a ‘throw-it-away’ consumption model to a ‘circular economy’ 21 circular economy solutions: changing how we eat, live and travel for a more sustainable world
In the years between the world wars, the financial markets, which were still connected in a global web, caused a further breakdown of the global economy and its links. The Great Depression in the US led to the end of the boom in South America, and a run on the banks in many other parts of the world. Another world war followed in 1939-1945.
Globalization – a phenomenon that has defined the world's economy in recent decades – is under pressure. As Donald Trump prepares for his tenure in the White House, he talks of dismantling a whole history of globalized trade that he sees as having had a catastrophic effect on the global economy.
The World Economic Forum’s Global Risks Report 2024 says the biggest short-term risk stems from misinformation and disinformation. In the longer term, climate-related threats dominate the top 10 risks global populations will face. Two-thirds of global experts anticipate a multipolar or fragmented order to take shape over the next decade.
According to the International Labour Organization (ILO), labour income in many developing countries remains below pre-pandemic levels. 14 In 2020, the global economy started experiencing inflation levels not seen in almost 40 years. 15 With high inflation, the global cost-of-living crisis has hit the most vulnerable hardest. 16 According to ...