Innholdsfortegnelse for DECEMBER 2024 - JANUARY 2025 i World Economic Journal

Sustainable development is paramount for developing countries, as it is critical to address challenges such as poverty, inequality, and environmental degradation. According to the World Bank, almost 700 million people are still living in extreme poverty today; most of them live in the Sub-Saharan region of Africa, which alone accounts for 67% of people living in extreme poverty in the world. On the other hand, global crises such as COVID-19 and the recent commodity crisis have resulted in an increased investment gap from $2.5 trillion to $4 trillion annually. Additionally, with urbanization on the rise, the need for sustainable development is only getting more pressing. By 2050, cities will have to cope with an additional 2.5 billion people. Therefore, sustainable development promises to reduce poverty, guarantee inclusive growth, and build…

Brazil is one of the world’s top agricultural exporters. In 2023, it exported a record $166 billion worth of farm products, including coffee, soybeans, beef, and sugar. As a top exporter of many agricultural commodities, Brazil has fostered economic growth and boosted its standing in the global trade echelons. Yet, with the right investments and regulations, there’s still more to be achieved. “Agriculture productivity growth in recent decades in Brazil has been mainly driven by investments in agriculture innovation, facilitation of sector financing, and trade liberalization,” World Bank expert Diego Arias concurs. Brazil’s agricultural industry has grown rapidly and broken records over the past two decades. Its 2023 exports stood at $166 billion, nearly double the $85 billion exported in 2013. The agriculture sector’s share of gross domestic product (GDP)…

1 WASTE-TO-ENERGY PLANTS Provider: Veolia, France SDGs: Responsible Consumption and Production, Climate Action Problem: Growing urban waste volumes and the need for alternative energy sources. Solution: Veolia operates plants that convert solid municipal waste into electricity through combustion processes with energy recovery, reducing landfill volumes and providing renewable energy. Features: •Produces up to 500 MW of electricity from waste•Reduces landfill waste volumes by up to 90%•Complies with strict emission standards veolia.com 2 SOLAR DESALINATION PLANT Provider: GivePower, USA SDGs: Clean Water and Sanitation, Affordable and Clean Energy Problem: Limited access to clean drinking water in arid regions. Solution: GivePower developed solar-powered desalination systems that convert seawater into drinking water using solar energy. The first such system was installed in Kiunga, Kenya, and can produce up to 75,000 liters of fresh…

Tourism is one of the biggest industries in the Philippines, contributing 8.6% of gross domestic product (GDP) in 2023. Though dampened by the 2020 COV-ID-19 pandemic, the Philippines’ tourism industry is gradually recovering, opening up new opportunities for domestic and foreign investors. Tourism is closely linked to infrastructure development, and government and commercial institutions are investing heavily in it in the Philippines. This infrastructure boom was kickstarted by the “Build! Build! Build! (BBB)” program under former President Rodrigo Duterte, which earmarked $165 billion for public works projects. Under current President Bongbong Marcos, the Build! Build! Build! program has been replaced by the Build Better More (BBM) program. Government officials pitched the BBM program as an expansion of the previous infrastructure program, earmarking more investment for public works. A recovering, fast-growing…

The key stock indices of the US are trading near all-time highs. The US interest rates are high as well. But many analysts expect the Fed to carry on easing its monetary policies. After all, the inflation rate is reasonably low, while the unemployment rate though not high, is not decreasing further. Some of the optimism, however, can also be attributed to Donald Trump’s election victory. What are the market’s expectations in relation to Trump’s presidential term? It is widely expected that Trump would bring jobs and industries that were relocated to China in the 2000s back to the US to create more jobs for US citizens. Trump also promises to increase US oil production, cancel some regulations, and decrease US budget deficits. He plans to do so by creating…

Historically, most countries have relied on fossil fuels like coal, petroleum, and natural gas for energy production. However, fossil fuels release carbon dioxide and other greenhouse gases, causing air pollution and climate change from heat trapped in the atmosphere. The proven link between fossil fuel usage and climate change has spurred many countries to invest heavily in and create favorable policies for non-polluting, renewable energy. 195 countries, or all United Nations-recognized sovereign states, have signed the Paris Agreement, a legally binding treaty to reduce greenhouse gas emissions and curb global warming. Transitioning to a carbon-free, renewable energy-based world requires massive investments and policy shifts. Despite exponential growth in the renewable energy sector, coal, oil, and gas currently constitute 81% of global energy consumption. Decarbonizing the global energy industry is feasible…

With a population of almost 100 million, Vietnam is a new Southeast Asian ‘dragon’ that has shown amazing endurance and steady development, making it a dynamic force in the global economy. It is one of the fastest-growing economies in the area, ranking 24th in terms of purchasing power parity (PPP) and 34th globally in terms of nominal GDP in 2023, according to the World Bank. VIETNAM'S CURRENT ECONOMIC LANDSCAPE: A GLOBAL FORCE IN THE MAKING The Đổi Mới (New Way) reforms, which were started in 1986 and signaled a relatively successful transition from a centrally planned economy to a market economy with a socialist bent, are primarily responsible for this quick and sustainable change. Over this period, real GDP per capita rose from under US$700 in 1986 to nearly US$4500…