The World Bank has issued a warning of slower economic growth in 2023, signaling a period of significant challenges for the global economy. As nations grapple with sluggish growth rates, the question arises: How can economies navigate these uncertain times, reshape globalization, and strengthen the world economy?
China continues to play a pivotal role in this landscape, maintaining its momentum and serving as a driving force for global economic growth. Experts emphasize the importance of major economies taking responsibility to foster collaboration and resilience in the face of adversity.
Yao Yang, dean of the National School of Development at Peking University, underscores the necessity for innovative strategies to bolster economic stability. Mari Pangestu, professor of international economics at the University of Indonesia and a former managing director at the World Bank, highlights the potential pathways for revitalizing globalization and enhancing international cooperation.
As the world navigates through an age of uncertainty, the road ahead for globalization involves rethinking traditional frameworks and embracing new forms of collaboration. Strengthening economic ties and fostering sustainable practices are seen as crucial steps towards a more robust and integrated global economy.
Reference(s):
Live: Embarking on a new era of global financial integration
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