Top 3 Challenges Facing the Global Economy
Summary
Rising temperatures pose a major threat to the prosperity of our global economy, not to mention our planet’s entire diverse and delicate ecosystem. Meanwhile, the Organisation for Economic Co-operation and Development (OECD) reports that air pollution accounts for non-market costs in the trillions annually due to increased health expenditures and agricultural yield and labor losses. Such recommendations include supporting market-based policies, trade in environmental goods and services and renewable energy, and initiatives that leverage private sector capital, ingenuity, and leadership. Amidst the COVID-19 shutdowns and the domino effect they’ve continued to have on business supply chains, it’s no surprise that both imports and exports have been dropping dramatically. Between investing in the talent and technologies that can reverse the environmental crisis, building business solutions that can buffer against future supply chain disruptions, and backing policies that promote open and fair international trade, U.S. policymakers and business leaders have the power to reinstate economic vitality across borders by coming together to build stronger, inclusive, and interconnected economies.