Global economic challenges: the pressing and visible issues

ISSN： 1059-5422

Source： Competitiveness Review: An International Business Journal incorporating Journal of Global Competitiveness, Vol.23, Iss.3, 2013-05, pp. : 192-198

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Abstract

Purpose - This paper aims to identify the economic challenges that nations and the international community must grapple with. It also clarifies certain factors that could ease the occurrence of global economic problems. Design/methodology/approach - The paper briefly discusses problems that currently impede global economic growth and identifies factors that are essential to minimizing the emergence of these problems. Findings - The reoccurrence of global economic problems is not a passing phenomenon, but it is rooted in sociopolitical and economic environments prevailing in the world. When these problems appear, regional and global responses are needed. Under these circumstances, insightful and creative thinking free of nationalistic passions and rooted in the belief of shared benefits and fate may prove to be effective. Originality/value - The paper offers a genuine reflection on today's global economic reality. It sets the stage for an effective argument to counter the voices that seize on current global economic difficulties and meltdowns to give the impression that the global community is unable to cope with prevailing global economic problems.