Significance of Global economy
The global economy is the interconnected network of worldwide economic activities, encompassing trade, production, and consumption among countries. It's been significantly impacted by events like the COVID-19 pandemic, leading to disruptions, financial losses, and increased unemployment. Various sectors, including tourism, maritime transport, and the hospitality industry, play crucial roles. The global economy faces challenges like commodity price volatility, climate change, and the need for sustainable practices, requiring international cooperation and innovative solutions.
Synonyms: World economy, International economy, Global market, International market, Global financial system
The below excerpts are indicatory and do represent direct quotations or translations. It is your responsibility to fact check each reference.
Buddhist concept of 'Global economy'
In Buddhism, the global economy is a system fueled by the attraction and exploitation of attention. This attention-driven force propels the circulation of goods, services, ideas, and people.
From: Hualin International Journal of Buddhist Studies
(1) It is a system where the attraction and exploitation of attention drive circulations of goods, services, ideas, and people, transitioning beyond energy and information.[1]
The concept of Global economy in local and regional sources
Global economy, as per regional sources, has seen significant expansion driven by advancements in technology and increased industrial production, leading to substantial growth in annual output.
From: Triveni Journal
(1) The global economy has expanded significantly, demonstrating substantial growth in annual output, with advancements in technology and industrial production contributing to this expansion.[2]
The concept of Global economy in scientific sources
The global economy is an interconnected network of worldwide economic activities like trade, investment, production, and consumption. It's been significantly impacted by events like COVID-19 and is influenced by factors like technology and social capital.
From: Sustainability Journal (MDPI)
(1) The main goal of the activity of these entities is energy security based on local resources, which influences the achievement of the sustainable goals of a global economy at the national level.[3] (2) Small and medium-sized enterprises play a crucial role, contributing to innovation and sustainability improvements, but face unique challenges in adopting advanced technologies.[4] (3) Refers to the worldwide system of economic activities, including production, trade, and consumption, that are interconnected and interdependent across nations.[5] (4) The global economy is the worldwide system of economic activities, including tourism, which contributes significantly to GDP, employment, and the interconnectedness of international markets.[6] (5) Refers to the interconnected network of economic activities and relationships among countries worldwide, subject to frequent and unpredictable changes.[7]
From: International Journal of Environmental Research and Public Health (MDPI)
(1) Transport is an integral part of it, considered a factor that contributes to many processes and phenomena while participating directly or indirectly in them.[8] (2) The global economy has been significantly affected by the outbreak of COVID-19, resulting in stagnation and regression, making the understanding of the pandemic's impact crucial for economic recovery.[9] (3) It has been impacted by the COVID-19 pandemic, with slowing down of the Chinese economy, interruptions in production, and altered global supply chains.[10] (4) This is examined in connection with agriculture in the global economy.[11] (5) The global economy refers to the interconnected network of economic activities and interactions among countries worldwide, which has encountered substantial adverse disruption due to the COVID-19 pandemic, leading to downturns, increased unemployment, and disruptions in global supply chains.[12]
From: The Malaysian Journal of Medical Sciences
(1) The global economy is mentioned in relation to the impacts of COVID-19, highlighting the broad economic consequences of the pandemic that need to be considered.[13] (2) This refers to the system where the gap between the rich and poor is widening, a fact seldom acknowledged by its proponents.[14] (3) The text mentions that the yearly cost of brain disorders is in the trillions, and will reduce the economic security of nations, impacting the global economy.[15]
From: Journal of Public Health in Africa
(1) The interconnected economic activities of the world, which experienced uncertainty and fear due to the consequences of measures implemented to combat COVID-19.[16] (2) This refers to the interconnected economic systems of the world, and fear associated with the outbreak was estimated to have impacted this.[17] (3) This phrase represents the worldwide economic system, which has been affected by the pandemic, as described in the text.[18]
From: South African Family Practice
(1) This refers to the worldwide system of trade and production, which led to the beginnings of mass consumerism, and, unintentionally, the formation of disease networks.[19] (2) Ambient air pollution alone imposes substantial costs on the global economy, amounting to trillions of dollars in total welfare losses, as indicated in the provided details.[20]
From: Journal of Medicinal Plants for Economic Development
(1) This is an important aspect because medicinal plants form a component of this, providing income for individuals and governments, especially in developing countries.[21]
From: South African Journal of HIV Medicine
(1) COVID-19 has had an unprecedented impact on this, in part because of its rapid trajectory necessitating widespread lockdowns, highlighting the need for global communication.[22]
From: Onderstepoort Journal of Veterinary Research
(1) This refers to the worldwide economic system, where outbreaks of infectious diseases can have a significant negative impact, causing substantial financial losses and disrupting various sectors.[23]
From: African Journal of Primary Health Care and Family Medicine
(1) This is a worldwide financial system, which the coronavirus disease 2019 (COVID-19) had a pervasive and persistent impact on, especially in low-income countries.[24]
From: South African Journal of Physiotherapy
(1) South Africa should engage proactively in this to build a critical mass of researchers and educators.[25]
From: Religions Journal (MDPI)
(1) It is where Through the logic of fundamentalist Christianity then, Haiti can finally be integrated into the larger surrounding world and global economy by becoming a Protestant Christian nation. Haiti would be part of a larger, global Christian community.[26] (2) The text references the "global economy" and the capitalist conditions imposing the agenda on hegemonic political groups driving it, suggesting that addressing climate change requires tackling the underlying economic structures.[27] (3) High and volatile commodity prices pose significant risks to the global economy The effects will be felt on both inflation and growth, and will fall unevenly across countries, depending on whether they are exporters or importers of affected commodities and how higher prices affect household and corporate income.[28] (4) Global economy is characterized by diminishing geographic segregation, decreasing discrimination, and increasingly integrated global production processes, reflecting a deepening of connections between countries.[29]