It is clear that the future of all world citizens is intertwined with the world economy. We all a part of it in some manner and our individual fates are tightly linked to the health of the world economy. The future of the world rests heavily on how the world economy behaves. Economic forces around the world have led to the business landscape changing significantly.
Some Major Trends
Some of the major trends in the world economy are:
World economy must become subservient to the primary objectives of holistic development of the various countries and the world. The economy must be able to create newer jobs for everyone, allow individuals to acquire purchasing power, pay taxes to the government administration for its functioning, and in general promote the development of a prosperous and vibrant nation.
Some Major Trends
Some of the major trends in the world economy are:
- Outsourcing and off-shoring (supply chain distributed across the world)
- Emergence of trans-national corporations
- Knowledge becoming the decisive factor for sustained business success
- Increased regulatory controls (Corporate Governance)
- Heightened awareness of their rights amongst customers and employees (especially in light of the massive layoffs during the recessionary times)
- Emergence of EU, China and India as economic powerhouses
World economy must become subservient to the primary objectives of holistic development of the various countries and the world. The economy must be able to create newer jobs for everyone, allow individuals to acquire purchasing power, pay taxes to the government administration for its functioning, and in general promote the development of a prosperous and vibrant nation.
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