- International economic growth refers to the growth of the global economy, which is determined by the economic activity of individual countries. For example, when countries experience economic growth, this can lead to more trade and investment with other countries. This, in turn, can contribute to the overall growth of the global economy.
- There are many factors that can drive international economic growth, including technological advances, productivity increases, and favorable economic policies. Increased demand for goods and services, either within a country or from other countries, can also spur economic growth.
- However, factors such as economic downturns, natural disasters, and political instability or security risks can slow or reverse economic growth. It is therefore important for countries to manage their economies carefully and aim for sustainable, long-term growth.
From an international perspective
Along with the pursuit of increasing prosperity, international economic growth is accompanied by a confusing slew of security problems. These problems are complex and often overlooked for their own sake. But why security, in particular, is the critical and most important factor in economic growth is illustrated by the current Ukraine war. Everything that has been built up and achieved in international trade has been completely reduced to absurdity in one night and is now on the brink of collapse.
Now one could assume that without the wars everything could be better again, but there too we have realized that we can no longer guarantee sustainability from the blind race for prosperity. Climate change has shown more and more that without a natural balance on this planet, even international economic growth is of no value.
Should we get a grip on these two serious aspects, then economic growth should be on the upswing again, shouldn’t it?
“Yes” and “no.” Because fact of the matter is that the new technology, we are developing now on an unbelievable scale is not only a blessing in disguise, but it also puts mankind in the age of security gaps. A technological muddle that makes it impossible to see what information has been shared.
Business Development Manager, pi-lar GmbH
Advocate of the EU Tech Chamber