Hey there! Did you know that the world might lose a whopping $5.7 trillion? 😲 That’s a lot of money! According to a new report by the World Economic Forum (WEF), something called “geoeconomic fragmentation” could cause this big loss. But what does that mean?
What is Geoeconomic Fragmentation?
Geoeconomic fragmentation is when countries around the world stop working together and start acting more separately. Imagine if your friends decided not to play together anymore and everyone stayed by themselves. Not so fun, right? In the world economy, this means less trade, fewer shared ideas, and less cooperation between countries.
Why Is This a Big Deal?
When countries don’t work together, it can hurt everyone’s money and jobs. The WEF says that this fragmentation could cause the global economy to lose up to $5.7 trillion! 😱 That’s even more than the money lost during the 2008 financial crisis and the COVID-19 pandemic.
What Can We Do About It?
Matthew Blake, who is the Head of Financial and Monetary Systems at the WEF, says that it’s important for countries to collaborate and plan carefully. Just like how you might work with your classmates on a group project, countries need to team up to solve big problems.
Why Should We Care?
This might sound like big stuff for adults, but it affects everyone, including you! If countries work together, it can lead to more jobs, better technology, and a happier planet. 🌍❤️
Let’s Stay Connected!
So, next time you work with your friends, remember how important teamwork is—not just in school, but all around the world!
Reference(s):
WEF: Geoeconomic fragmentation may cut global GDP by $5.7 trillion.
cgtn.com
