World Economy
World economy correlated with geography and ecology on earth undertaken by monitory policy in exchange between goods and services from different geographical location. Unemployment rate, consumer price index, industrial production, gross domestic product, stock market price, money supply, bankruptcies and many such indicators determine economic condition and economic growth. All most every country throughout the globe following basic principals set by research and development from privilege institutions and policy makers to maintain world order.
Research and development is the key to success in every economy and must be prioritize as highest under country leadership in each part of the globe. IMF and world bank plays major role for development and advise for sustainable economy in many geographical locations. According to IMF, United States has world’s largest economy at $20.4 trillion in 2017-2018. China and Japan has taken the second and third place at $14 trillion and $5.1 trillion respectively. IMF also mention that China will have larger economy by 2050 following through the current model of development, leadership, innovation and infrastructure.
Fiscal and monitory policy helps every nation to improve livelihood for humans and other species on planet. Globalization and centralized eco-chain in modern world enhances efficiency by the help of technology, government and industry integration. If we consider our world as one identity and development of every single nation under highest priority, consider in regards with nuclear diffusion in the agenda to reveal peace and prosperity on earth for our future, than it will be a happier place for all.
Business models and economic progression significant for developed, developing and under developed economy, which suppose to be boost under a privilege model of correlation and human destiny for each part of the globe together. Under the leadership of Government and privatization, the world is moving faster from 21st century by he help of technology, and software industry is playing important role to adapt development pattern, transparency and transform strategies to improve current condition.
Production line and economic of scale occupied robots for fast manufacturing under highest quality standard, though there are demerits of using mass production, sometime quality not maintain perfectly, volume of scale under highest priority for every economy. Resources are abundant on earth for human’s without having national barrier to mitigate all sort of human needs.