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The world economy is facing unprecedented difficulties!

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UN data now shows that development progress around the world may have regressed…

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North and South

The United Nations warns that human development in Gaza risks being set back 44 years if the current conflict continues into its ninth month. (Source: UNDP)

The 2020s have brought a level of chaos to the world not seen in decades. The unprecedented pandemic is followed by a full-blown conflict in Europe and escalating tensions in the Middle East, all of which have been pushing up food and fuel prices. Meanwhile, extreme weather patterns continue to show that climate change is increasingly having dangerous impacts on life, society and the economy.

Dangerous deadlock

In a report titled “Which countries have the best and worst living standards?”, analysts at The Economist point out that it was the tumultuous start to the 2020s that created the a downward shift in human development pathways around the world, leaving the weakest and poorest countries behind; Exacerbating inequality and causing political polarization on a global scale.

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This situation is leading to a dangerous deadlock that needs to be resolved urgently.

The report shows that the impact of “unprecedented” events such as a global pandemic, military conflict in Europe and extreme weather incidents are devastating. The damage caused by the above factors to the global standard of living.