Impact Analysis of Country-Specific Economic Crisis on Global Economy Using Data Points
摘要
A global crisis is any event such as war, economic decline, pandemic, or extreme natural event that affects all countries economically, socially, culturally, and politically. While the crisis can originate from various realms and hence be categorized into several types, any concern today is considered global. A financial crisis developing in one part of the world eventually leads to a humanitarian crisis in the other due to the world’s interdependent and interconnected nature. Yet, more must be done to study the impact of any national emergency on the global level. This paper explores the current global situation and uses real-life cases to show the non-domestic nature of crises worldwide. The paper explores developed and developing nations through case studies to show the world’s interconnectedness. The research tries to map the impact of the recent crisis in this century using data points and news coverage. Using the examples of the Russia–Ukraine conflict, the paper shows the chaos caused by the global agricultural industry. It uses the Israel-Palestinian crisis to reflect the changes in the neighboring states and globe. It also explains the political crisis of Afghanistan and its influence on creating the humanitarian refugee crisis in Europe and elsewhere. The US election is taken as another case study to understand its correlation with the global stock market. The Sri Lankan economic crisis and its international impact are studied as a final case study.