The current global economic challenges include rising geopolitical tensions, economic slowdowns in major economies such as China, surging financial stress due to high interest rates and elevated debt levels, trade fragmentation, and climate change impacts [1][3][4][5]. Geopolitical tensions, notably wars in Eastern Europe and the Middle East, have disrupted vital food and energy supplies and heightened uncertainty, negatively impacting investment and economic growth [5]. Additionally, the cost-of-living crisis is a significant short-term risk, exacerbated by inflation and supply chain disruptions [4]. Economic policies focusing on self-sufficiency and geopolitical goals have led to geoeconomic confrontations and the erosion of social cohesion, further straining global cooperation [3][4]. Finally, long-term environmental risks such as failure to tackle climate change, biodiversity loss, and ecosystem collapse pose severe threats to global stability [4][5].

What are the current global economic challenges?

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