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Emerging economies have seen their share of total global trade rocket in recent years. China, for instance, is now responsible for 15% of all world exports. Unfinished goods, components and services account for 70% of all trade. While trade in services accounts for two-thirds of global GDP, COVID-19 has had a devastating impact on trade ...
This report is structured as follows: Chapter 1 reviews the global labour-market landscape at the beginning of 2023. Chapter 2 explores how key macrotrends are expected to transform this landscape over the 2023–2027 period. Chapters 3 and 4 then discuss the resulting global outlooks for jobs and skills over the 2023–2027 period.
From disinformation to inflation, these are the world's most pressing risks. The World Economic Forum’s Global Risks Report 2024 says the biggest short-term risk stems from misinformation and disinformation. In the longer term, climate-related threats dominate the top 10 risks global populations will face.
Even if the economic fallout remains comparatively contained, global growth is forecast to slow to 2.7% in 2023, with around one-third of the world’s economy facing a technical recession – the third-weakest growth profile in over 20 years. 18 This downturn will be led by advanced markets, with projected growth falling to 1.1% in 2023, while ...
Equal access to opportunity. While we believe that the global labour market in 2023 has some bright spots and that there are pockets of momentum, we know that not everyone has equal access to those opportunities. According to data from The World Economic Forum (WEF), by 2025, an “estimated 97 million new jobs will emerge and 85 million others ...
Global debt is borrowing by governments, businesses and people, and it’s at dangerously high levels. In 2021, global debt reached a record $303 trillion, a further jump from what was record global debt in 2020 of $226 trillion, as reported by the International Monetary Fund (IMF) in its Global Debt Database. This was the biggest one-year debt ...
9 forces reshaping global business. To navigate the increasingly complex global environment, global business leaders must adapt to the following nine forces reshaping global business: 1. Conflict in Ukraine and Middle East. The Russia-Ukraine frontline in the conflict has remained static in the last year.
Most other countries produce only marginal innovations or local adaptation of existing technologies. Over the past 20 years, large cross-country innovation divides have not diminished. Just five countries today produce together over 70% of global patent activity, and the top 10 countries generate over 85% of global patent shares (Figure 3.3).
4.1 Expected disruptions to skills. When the Future of Jobs Report was first published in 2016, surveyed companies predicted that 35% of workers’ skills would be disrupted in the following five years. In 2023, that share has risen to 44% (Figure 4.1). This expected rate of disruption to skills nevertheless represents a stabilization since the ...
On the economic front, India has been a key growth engine for the world, contributing 16% to the global growth in 2023. The country’s growth rate of 7.2% in fiscal 2022-2023 was the second-highest among the G20 countries and almost twice the average for emerging market economies that year.