THE WAR IN UKRAINE, CLIMATE CHANGE AND VIRAL INFECTIONS: IMPACT ON GEO-ECONOMIC SHIFTS IN THE GLOBAL ECONOMY

Abstract

The war in Ukraine, global warming that has been talked about for the last five years, and the COVID-19 pandemic have a special effect and shift the processes in the world economy.

The Russian Federation’s military invasion of Ukraine on February 24, 2022 complicated the already unstable geopolitical situation and its consequences in terms of human losses and impact on the world economy, which is also under pressure from the sanctions imposed against the Russian Federation and the deterioration of energy situation. The crisis is yet to be fully assessed. Growth forecasts for the largest economies have been revised downwards, since the turmoil in financial and commodity markets caused by the war in Ukraine may persist for many years. It is also difficult to predict the impact of the consequences of war and the sharp increase in price level on the world market.

Global problems of world development can be divided into two main groups. The first one includes conceptually significant problems that require the study of social certainty and need to be addressed (conceptual uncertainty of resources’ role and value, the absence of a global model of relations between countries, destructiveness in international relations, the imbalance in amount of resources in countries), and the second – practical problems that need maximum limiting and the soonest possible solution in the future (asymmetry in quality of life in countries, destruction of human resources and man-made technological impact). Digitization is becoming fundamental because it affects security. Today we live in a world of global cyber attack and see that computational methods are used in modern warfare. Therefore, digitization is a key condition for the national security of any bloc and any country.