XV Международная студенческая научная конференция Студенческий научный форум - 2023

In recent years, the economy of Russia and the world has found itself in a difficult situation. This was influenced by a lot of factors, ranging from Covid-19, ending with the energy crisis. Let's try to study these problems. Find out which of them have had the greatest impact on the global economy. This is not so easy to do, because every year the number of economic troubles and challenges increases. And they don't decrease at the same rate by burning.

1. Energy and Environmental Security

Energy and environmental security has emerged as the primary issue on the global agenda for 2020-2022. Consensus has recently been forged on the potential for long-term economic, national security and societal damage from insecure energy supplies and environmental catastrophe, as well as the intense need for technological advances that can provide low-polluting and secure energy sources. Yet despite growing global momentum, there is still little agreement on the best set of actions required to reduce global dependency on fossil fuels and greenhouse gas emissions. Confounding the international policy challenge is the disproportionate impact of high oil prices and global warming across nations, insulating some countries from immediate concern while forcing others to press for more rapid change.

2. Global Imbalances

Today’s interconnected world is in uncharted territory: the world’s sole hegemonic power, the United States, nurses an addiction to foreign capital, while up-and-coming powers such as China and oil exporters sustain surpluses of increasing magnitudes. Some worry that the world is at a tipping point, where only a dramatic shift in economic policy can alter the looming trajectory. Others see underlying structural factors perpetuating gross imbalances for a sustained period.

3.New Powers

The rise of “emerging powers”-a group that usually includes the so-called BRICs (Brazil, Russia, India, and China), but which sometimes is applied more broadly to include South Africa, Mexico and others-is reshaping the global economy and, more gradually, international politics. Growing much faster than the rest of the world, these economies are changing the structure of international production and trade, the nature and direction of capital flows, and the patterns of natural resource consumption. At the same time, the growth of these countries is beginning to shift the global distribution of power forcing the great powers to come to terms with the reality that they will need to share management of international rules and systems in the coming decades.

4.Global corporation, global influence

The private sector is becoming a significant player-indeed some might say the dominant player-in shaping the global economic and development agenda. Multinational corporations with operations that span the globe, and in some cases capacities and networks that match those of governments, have a particularly important role to play in helping to spread the opportunities and mitigating some of the risks of globalization.

5. Global Health Crises

From responding to the threat of pandemic flu to efforts to control the spread of HIV/AIDS, the world has begun to realize that global health issues are relevant for any citizen, regardless of nationality, residence or status. Despite improvements in the world’s collective ability to battle disease with advances in medicine and technology, global health needs remain unmet, making the entire world vulnerable to health crises. In particular, the poor continue to suffer disproportionately from inadequate health services, exacerbating their struggle out of poverty.

6. Global Governance Stalemate

Today’s global challenges-nuclear proliferation, the deadlock of global trade negotiations, the threat of pandemic flu, and the fight against global poverty-cannot be solved by yesterday’s international institutions. To resolve the world’s most pressing problems, which touch all corners of the globe, we must adapt our global governance approaches to be more representative and thus more effective by encouraging and enabling the key affected countries to take an active role in generating solutions.

7. Global Poverty: New Actors, New Approaches

The challenge of global poverty is more urgent than ever: over half the world’s population-nearly 3 billion people-lives on less than $2 per day; nearly 19,000 children die each day-about 11 million per year -because they’re too poor to survive. With such a toll, addressing poverty in new and more effective ways must be a priority for the global policy agenda. Fortunately, a variety of new actors are bringing new perspectives, new approaches and new energy to the challenge.

In the article, I welcome the top 7 challenges to the global economy, including diseases, poverty, geopolitics, healthcare, globalization, and power imbalance. Every year this list increases, instead of decreasing. I believe that humanity should unite to solve these problems. So we can get rid of poverty, hunger, deaths of children and make the whole world happy. Otherwise, these challenges will soon lead to the destruction of humanity.

Sources of literature used:

1. Geoffrey Gertz, Homi Kharas, and Johannes F. Linn, The Imperative of Development. The Wolfensohn Center at Brookings. 2017.-304p. ISBN: 9780815732563.

Joseph S. Nye Jr.,The “Democracy Deficit” in the Global Economy Enhancing the Legitimacy and Accountability of Global Institutions. 2003.-88p. ISBN: 0930503848.

Robert E. Litan, Michael Pomerleano, and Vasudevan Sundararajan, The Future of Domestic Capital Markets in Developing Countries. 2003.-400p. ISBN: 9780815796107.