Global Economic Challenges in the Recovery Period After a decade marked by the COVID-19 pandemic, global economic recovery faces various complex challenges. One of the main factors influencing the recovery is uncertainty in the supply chain. The pandemic has caused significant disruption, and many countries are still trying to restore their production capacity. In this case, digital transformation and innovation are key to minimizing further disruption. Inflation is also a central issue in the current economic recovery. Many countries are experiencing spikes in raw material and energy prices, which have an impact on people’s costs of living. Central banks around the world must find a balance between raising interest rates to curb inflation and supporting economic growth. Managing inflation is crucial so that recovery can continue without increasing the burden on the small and medium business sector which is the backbone of the economy. On the other hand, the unequal distribution of vaccines in various countries is a big challenge. Developing countries are still struggling to get adequate access to vaccines, which is impacting the speed of their recovery. This inequality has the potential to widen the economic gap between rich and poor countries, thereby creating risks to global stability. In addition, the transition to a sustainable economy is the main focus in the economic recovery agenda. Many countries are committed to reducing carbon emissions and investing in green technology. However, this transition requires major investment and international collaboration. Negotiations related to climate change in international forums are very important, but are often hampered by political interests. The energy crisis is also an urgent problem in the context of this recovery. The surge in energy prices, especially natural gas and oil, points to ongoing geopolitical instability. Countries that depend on energy imports must look for alternatives, including the development of renewable energy sources, to reduce dependence while maintaining economic growth. The labor sector is also facing dynamic changes post-pandemic. Many workers are experiencing career shifts due to automation and changing industry needs. Retraining and skills education are critical to preparing the workforce for this shift. This requires cooperation between governments, companies and educational institutions. Another aspect that is often overlooked is the social impact of economic recovery. The mental health crisis and increasing spike in unemployment are now a serious concern. Addressing this issue with policies that are inclusive and supportive of mental health will be critical to the success of a balanced social recovery. The importance of international collaboration cannot be ignored either. Cooperation between countries in the fields of trade, investment and handling the pandemic is the main driver for overcoming common challenges. International forums such as the G20 and WTO are important platforms for maintaining dialogue and reaching mutually beneficial agreements. Overall, the global economic challenges in the recovery period are complex and multifaceted. With an integrated and collaborative approach, it is hoped that the world can overcome this problem and return to a path of sustainable and inclusive growth.
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