EXPERTS CLUB ANALYZED THE KEY TRENDS IN THE GLOBAL ECONOMY OVER THE LAST DECADES
In his analytical video published on the Experts Club YouTube channel, Maxim Urakin, founder of the project and PhD in Economics, focuses on the key indicator of global macroeconomics – gross domestic product (GDP), which plays a central role in analyzing the economic well-being of countries, SEEDS writes.
GDP is the total value of all goods and services produced in a country over a certain period of time. This indicator helps to assess how productive a country’s economy is and is an important indicator of its overall economic well-being.
Analyzing GDP dynamics on a global scale
According to Urakin, analyzing the last decades shows significant changes in the global economy.
“In the 1990s to 2000s, first of all, there was significant economic growth in countries such as the US and China, as well as in developing countries such as India. It was a time of economic prosperity for developed countries and a period of rapid growth for some emerging markets,” explained the founder of Experts Club.
But then the world economy was rocked by crises, including the global financial crisis of 2008 and the subsequent European debt crisis. These events, according to Expert Club, slowed global GDP growth and exposed the vulnerability of many economies previously considered promising.
“In recent years, we have faced new challenges, such as the COVID-19 pandemic, which led to a significant downturn in the global economy, and geopolitical tensions, including the war in Ukraine. These events have re-emphasized the interconnectedness and interdependence in the global economy,” – said Urakin.
GDP and geopolitical changes
Urakin notes that in the context of geopolitics, GDP serves not only as a measure of economic development but also as an indicator of international influence.
“India, surpassing the UK, has become the fifth largest economy in the world, which emphasizes the shift of global economic forces to the Asian region. This is also confirmed by the fact that China, having overtaken the US in terms of purchasing power, has confirmed its status as a global economic power,” the economist emphasized.
Future trends
Analysis of global GDP dynamics shows that the global economy continues to recover from the pandemic, but geopolitical instability has a restraining effect on this growth. According to Maxim Urakin, it is important to monitor developments and adapt to changing conditions to ensure sustainable economic growth in the future.
Ukraine, in this context, needs to focus on strengthening domestic political stability, restoring economic potential and continuing reforms to improve its post-war prospects and strengthen its position on the global stage.
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