Global and local economic crises are slowing down the world’s economy and are opening up prospects for much lower growth rates than those experienced in past decades. Economic protectionism and trade wars are escalating. The war in Ukraine goes hand in hand with other manifestations that signal the non-zero probability of a future of severe economic and political instability and of possible large-scale, if not global, conflicts. «History does not repeat itself, but it often rhymes» (credited to Mark Twain) The aim of the paper is to open a discussion on the criteria that are needed to inform and develop an economic and industrial policy that is aware of the seriousness of future risks and capable of facing such risks with the necessary wisdom, through the concerted support of the major countries, and through international inter-state collaboration. Although there are profound differences between today’s globalized economy and its historical equivalents, learning from the past should not be precluded, as it can help avoid dangerous paths from being followed that could lead to universally undesired outcomes in the future. The paper also seeks to link these manifestations together in a historical perspective, considering the results of previous studies that adopted the comparative historical approach. This paper in fact offers empirical evidence of a rampant “global protectionism”, the slowdown of the world’s economy in the long term, and the changing structure of global value chains. The Russian–Ukrainian war is a dramatic effect of the growing imbalances and instability of the global economic and political order, together with other effects that this contribution analyzes.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |