Innholdsfortegnelse for FEBRUARY - MARCH 2025 i World Economic Journal

"I am very worried about the possibility that AI will increase the gaps between rich and poor (and middle-income) countries, partly because it will automate a lot of tasks in which middle-income countries specialize." First, I'd like to congratulate you and your colleagues, Simon Johnson and James A. Robinson, on winning the Nobel Prize for your work on the formation and impact of institutions on prosperity. In light of your recent comments to the Nobel Committee about the threats to democracy posed by communication infrastructure and social media, I'm curious to know what technological advancements and development models could potentially reverse this trend and strengthen democracy, particularly in countries with weaker institutions. Thank you very much. I’m not sure that we can bank on technological advancements to strengthen democracy. My…

The advent of industrialization has seen a massive shift of people from the countryside and villages to urban environments. Per a UN report, a point has been reached that now 55% of global citizens inhabit urban environments and by the 2030s, it expects this figure to rise to 61%, then to 68% in 2050. Despite the advancement of technology and jobs, this leap has brought with it an array of environmental ills. • Air, water, and noise pollution; • The dwindling of green spaces; • Threatening of animal habitats; • Problems with rising temperatures and sea levels; • Mismanaged waste and its adverse effects on nature and urban dwellers. BRIEF OVERVIEW OF MODERN URBAN ECOSYSTEMS The heavily populated environments that the majority of global citizens inhabit now are at the…

INTRODUCTION In today’s world, sustainable development is no longer just a trend—it has become a strategic necessity for businesses and government institutions. Environmental, Social, and Governance (ESG) factors now play a central role in determining a company’s investment appeal, regulatory compliance, and global reputation. In 2024, the European Union and other international organizations significantly strengthened ESG reporting requirements, compelling companies to seek advanced technological solutions for automating ESG analysis and reporting. SustainaNet AITE is a next-generation AI-powered ESG analytics platform designed to automate monitoring, analysis, and sustainability forecasting for businesses and public administration. After several years of development and testing, the project has officially become part of the International Research Consortium Global Initiative for Sustainable Development of Territorial Entities (GITE IRC) and has been established as its key technological initiative.…

Bangladesh’s economy has experienced strong, steady growth in recent years, which is confirmed by a significant increase in the gross domestic product (GDP) and by the improvement of key socio-economic indicators. ECONOMIC GROWTH OF BANGLADESH IN RECENT YEARS Bangladesh's economy showed impressive growth in 2023. The country's gross domestic product reached $437.42 billion, accounting for 0.41% of the global economy. Bangladesh's real GDP increased by 5.78%, outpacing the world average growth rate, which was only 3.34%. THE COUNTRY'S ROLE IN SOUTH ASIA AND THE GLOBAL ECONOMY Bangladesh occupies an important position in South Asia. It is the second-largest economy in the region after India. In terms of GDP per capita, the country is ahead of India and Pakistan. The main drivers of economic growth are the textile industry, information technology,…

PREREQUISITES FOR FUTURE CHANGES According to the International Monetary Fund (IMF), global economic growth slows to 2.5% in 2024, driven by rising rates and high inflation. In this environment, successful strategies will depend on the flexibility of markets and the ability to embrace innovation. • Rate hikes and their consequences Central banks continued tightening policies in 2024, pushing average interest rates up to 4.5% in developed countries and 8% in emerging markets. This created significant obstacles for small and medium-sized businesses, limiting access to debt financing. ► "Rate hikes are necessary to combat inflation, but their consequences make things more difficult for many companies, especially in highly indebted countries," said James Robertson , World Bank. Main consequences: 1. Reduction in lending volumes: Small and medium-sized businesses, which are…

Acemoğlu's research highlights how extractive institutions, which benefit only a select few, hinder societal progress. In contrast, pluralistic and inclusive institutions empower individuals by fostering greater participation in decision-making and ensuring equitable access to opportunities. Aligned with this principle, the awards recognize leaders who have championed projects that create a more equitable and inclusive society. These projects empower individuals across diverse social groups by providing them with greater opportunities for living, creativity, self-realization, and contributing to their communities. WINNER DARON ACEMOĞLUNOMINATION PERSON OF THE YEAR 2024 Nobel laureate in economics and Institute Professor of Economics at MIT For studies of how institutions are formed and affect prosperity WINNER HIS HIGHNESS SHEIKH KHALED BIN MOHAMED BIN ZAYED AL NAHYAN NOMINATION EMPLOYMENT Crown Prince of Abu Dhabi and Chairman of the Abu…

Central Asia is experiencing a new stage of development. Historically, the region has been dependent on the export of raw materials, which has made it vulnerable to fluctuations in world prices for oil, gas, metals, and other resources. In response, countries in the region have begun to look for ways to diversify their economies. Kazakhstan is emphasizing the development of the IT sector and renewable energy. Uzbekistan aims to become a center for manufacturing and trade. Kyrgyzstan is also developing tourism, agriculture, and hydropower. However, Central Asia's economic growth also faces serious challenges. One of the main challenges is climate change. For example, melting glaciers in Kyrgyzstan's mountains threaten the stability of agriculture and hydropower. Geopolitical instability is also putting pressure on the region's economy. Sanctions against Russia, a major…

True, China’s economic growth has recently slowed down slightly due to a number of reasons but is still over and above the rates observed in developed countries. Apart from its economic influence, China is one of the most influential BRICS+ members. BRICS+, Brazil, Russia, India, China South Africa, as well as Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates, are current member states. These countries do not only form an economic alliance but also a political one to act as a counterforce to the West order and international organizations, such as the IMF. MAIN ECONOMIC TRENDS As reported by Reuters, economic growth in China has totaled 5.0% in 2024, a decrease compared to last year. Also, according to OECD, the growth rate will gradually weaken in 2025 and…

BRICS is an informal intergovernmental organization of developing economies aiming to counterbalance the influence of Western-dominated institutions such as the International Monetary Fund (IMF) and the World Bank. The acronym BRICS stands for Brazil, Russia, India, China, and South Africa, the five initial members forming the geopolitical bloc. It was established in 2009. Since then, more countries, including Egypt, Ethiopia, Iran, and the United Arab Emirates, have joined. Saudi Arabia’s membership is pending confirmation. The bloc seeks to coordinate its members’ economic and diplomatic policies, establish new financial institutions, and decrease reliance on the US dollar. Despite having diverse interests, BRICS members have common values and targets, including but not limited to the following: • Improving their economic indicators; • Opposing non-UN-sanctions; • Pushing for reforms in global institutions, such…

INTRODUCTION Republic of Türkiye has always acted as a liaison between East and West thanks to its geographic location. It is widely considered to be an upper middle-income, diversified Middle Eastern economy. However, its health has been shattered by high inflation and currency depreciation, caused by expansionary monetary and fiscal measures taken just before the 2023 elections. Right now, they are not in place, however, because of the galloping inflation. Generally, we can say that Türkiye is an industrializing economy with a large agricultural base. The country also has certain geopolitical influence. Türkiye is a member of the UN since 1945 and NATO since 1952. Since 2005 there have been EU accession talks. Türkiye’s political system has been presidential since 2017. Türkiye’s population is close to 88 million people. According…