http://doi.org/10.35668/2520-6524-2023-1-01
Fedulova S. O. — D. Sc. of Economics, Professor, Alfred Nobel University, 18, Sicheslavska Naberezhna, Dnipro city, Ukraine, 49000; +38(067)775-76-89; sveta_fedulova@ukr.net; ORCID: 0000-0002-5163-3890
THE MULTIDIMENSIONAL CURRENT GLOBAL CRISIS VERSUS THE CONCEPT OF POLYCRISIS
Abstract. The article is devoted to the most relevant issues of the research of the multidimensional current world crisis and the concept of polycrisis. The main idea of the article is to determine the essence of the multidimensionality of the current world crisis and its impact on further world development. It was determined that ongoing crisis upheavals should be described from the standpoint of the multidimensional current world crisis, and not from the standpoint of a catastrophic polycrisis. The proposed study reveals the essence of the multidimensional current world crisis due to the factors of geopolitical tension; global crises caused by these factors and global risks. The factors of geopolitical tension are defined as the war in Ukraine; tensions between the US and China; the Covid-19 pandemic and climate change. It notes that the complex and largely unrecognized causal relationships between the world’s economic, social and environmental systems can lead to many risks becoming critical almost simultaneously. It has been updated that the most serious immediate risk is the cost of living crisis. It was determined that the multidimensional current world crisis has signs of non-linearity of development, and it is impossible to definitively assert that all global risks are interconnected and can lead to global catastrophic consequences. In this context, simple, fragmented and crisis-oriented approaches are ineffective and often create a circle of unresolved problems.
Keywords: cmultidimensional current global crisis, polycrisis, cost of living crisis, war, political tension, pandemic.
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