Global Economy Under Crisis: Practical Insights from COVID-19, Energy Shocks, and Geopolitical Tensions

Over the past decade, the global economy has been put under a lot of pressure because of the many challenges ranging from the COVID-19 pandemic to the energy shocks and geopolitical conflicts such as the war in Ukraine. Due to these major crisis, supply chains have been disrupted, the inflation took the way over the accepted human limits and new vulnerabilities have been created (Baldwin & Wender di Mauro, 2020). The focus of this paper is on three major crises: the COVID-19 pandemic, the energy crisis triggered by supply disruptions, and geopolitical tensions in Eastern Europe. Analyzing the impact that these three crisis made over the economy and over the political relations, the study highlights both the fragility and resilience of the global system. That being said, the international policies must be coordinated in a much better way than these days, structural reforms are needed and also there should be implemented adaptive strategies for future crises (Reinhart & Rogoff, 2009).