The health of the global economy is of concern to many across the world, from businesses and investors to governments and organisations. For these entities, a positive outlook is welcome, but also just as important is an understanding of the challenges that the world has to work through
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2. The Challenges Facing
the Global Economy
The health of the global economy is of concern to many across the world,
from businesses and investors to governments and organisations. For
these entities, a positive outlook is welcome, but also just as important is
an understanding of the challenges that the world has to work through.
3. Willah Joseph Mudolo | 3
• Food Security
By 2050, the World
Economic Forum (WEF)
estimates that the global
population will be about
nine billion, and every mouth
will need to be fed. The
United Nations (UN) has set
food security as one of its
Sustainable Development
Goals (SDGs) with a timeline
for 2030. The risk of not
achieving food security is
huge, as it could lead to
widespread hunger.
• Economic
Inequality
While there has been
notable growth for various
economies across the
world, leading to wealth
increases, this upward
trajectory has also
highlighted gaping income
inequalities. Research
suggests that this
inequality leads to social
and economic ills that pose
a danger to future growth.
• Unemploy
ment
Since the global financial
crisis of 2008-09, the
International Labour
Organization estimated
that more than 60 million
jobs were lost. By 2020,
hundreds of millions
of jobs will be required
to provide employment
opportunities for the
unemployed and those
joining the workforce.
Here are some of these challenges.