Conflicts can decimate a country’s economy. Governments (especially if they, themselves are involved in the conflict) end up using up vast quantities of national resources, and directing focus to resolving the conflict instead of societal issues. Even though national economies are generally very broad, the collective economic action (or lack thereof) of both the government and its citizens creates an economically perilous situation. In normal circumstances, economies are expected to grow with time, whereas during a conflict, national economies stall or even decline. Thus, rebuilding an economy after a conflict is quite challenging, as governments are faced with the task of jumpstarting a national economy without sufficient resources.
Global shortages encompass widespread scarcities of crucial goods and resources affecting numerous sectors worldwide. These shortages arise from various factors, including supply chain disruptions due to events like the COVID-19 pandemic, geopolitical tensions that lead to trade restrictions, and natural disasters impacting production. Additionally, shifts towards sustainable technologies increase demand for specific raw materials, creating supply bottlenecks. Economic fluctuations and consumer behavior changes, such as hoarding during uncertainties, also contribute to these shortages. These global scarcities pose significant challenges, leading to inflation, impeding economic growth, and necessitating international cooperation to enhance supply chain resilience and diversification of production sources to stabilize global markets.
