Global Economy

Answer the following questions:

1. In your own understanding, what do you think is the rationale behind the concept of
a Global Economy?
 Emerging markets are now one of the main drivers of global economic
growth as a result of the increase in the global population. The global
economy enables nations to access any resource they require, regardless of
whether it is domestically produced. Trade facilitates the availability of these
resources.

2. What are the markets that are affected by Globalization?

 The markets for vehicles, chemicals, electronics, steel, textiles, and tires are
those that are most impacted by globalization. Others have done better,
including food and drink, paper, medicines, and industrial gear and
equipment.

3. What are some global economic issues that we are aware of at present?
 A significant rise in the nation's debt as a result of the pandemic and the
recovery strategies put in place. This presents a particular issue for
developing nations, since the pandemic's economic effects have been
somewhat tempered by the temporary suspension of debt payments for the
poorest citizens. Inflation is a problem for the global economy as well, partly
because of persistent supply issues and increased demand as a result of the
economy's recovery in the post-Covid era. Additionally, high costs are
correlated with commodity scarcity. These are two of the current day's well-
known problems.