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Just like the evolution of human beings or the creation of planets, the world undergoes several changes in terms of politics, economics, technology and innovation, business trends etc. every year. Human beings have witnessed several historic moments being made in their lifetime. Global scenarios refer to the study of past and present to evaluate and forecast the events in future. Major historical events have changed the course of the future, as well as modern technological innovations have completely changed the future perception of people.
Shaping the 21st Century: Evidence from the Past
The 21st century is generally perceived as the modernised, forward-looking era by the majority of the population. This perception of people is shaped by the challenges and changes incurred in the past that have shaped the modern world we are currently living in. The first world war introduced the world to the disasters that mankind can bestow with the power of modern machinery. The second world war made all the nations of the world unite towards the common goal of ensuring peace in the world and led to the formation of the Bretton Woods System. The further advancement of the higher education system, development of fast and efficient transportation as well as the communication system, globalisation and improved trade relations amongst the nations have shaped the 21st century as we are living today.
Businesses have become more efficient by employing modern techniques. Economies across the world are now more methodical as they’re making use of the advanced techniques of forecasting and analysis. The politics of today are much more evolved than the politics of the past.
All these changes make the study of global scenarios a hot topic for policymakers.
Change in Global Scenarios due to Covid-19
The advent of covid-19 saw mass panic amongst the nations to impose economic shutdowns or lockdowns and release the set of guidelines to be followed by every citizen to stop the spread of the disease. The world underwent major change within one year of the pandemic. The virtual economy came into existence wherein workplaces were operating in a virtual mode, the digital economy was being promoted, health and medicine industries became the centre to raising GDP as well as promoting welfare. Social distancing, face masks have become an integral part of the lifestyle.
Apart from the above-mentioned changes, the world witnessed millions of deaths and millions of families slipping into poverty. The imposed lockdowns pushed several businesses out of the market and even major firms struggled to keep their heads above water. The unemployment rate saw an all-time increase and so did the cases of discrimination and violence. The education sector underwent major change and students who didn’t have access to the resources slipped into the shackles of illiteracy. An increase in the rate of dropouts seemed inevitable.
The period also saw major political upheavals in the USA and Afghanistan which impacted economies all over the world. The policymakers had the major challenge of designing the policies in a way that was inclusive to all the sections of the society. The healthcare experts took inspiration from the treatments and guidelines followed in the past and improvised modern medicinal techniques to overcome the pandemic. Several forecasting and speculations are being made as the world is returning to the new normal. These forecasts and speculations are being made after analysing the global scenario. The study of global scenarios especially gets important for policymakers and researchers across the globe.
Technological Improvements
The world has seen several technological changes which have completely changed the course of the events. The innovations in the mobile phone, televisions, laptops and computers have made the world fit into a small box. The speed of the internet is continuously being improved and made affordable. Businesses are taking steps to increase the reach of the internet to all the remote areas of the world. Driverless cars are no longer fiction. Bullet trains are shrinking the world within a few minutes of the time zone. Nowadays, one can contact any person sitting in Russia, Canada, the Usa or any part of the world from India within a few minutes.
Amidst all these innovations and improvements, the cybercrime rate has also increased. The people on the internet are now more prone to bullying, catfishing, financial frauds, scams etc. The underground economy has been created which is causing a loss of billions to the GDP.
The internet has become increasingly unsafe for kids and teenagers. To exercise their power in this domain, the government and the policymakers have studied the data and made suitable policies to protect the citizens in the cyber arena. Waging cyber wars on nations has become increasingly common, which poses a threat of releasing the private data of several citizens on the black net. Governments across the world are taking steps to strengthen their networks and cloud data.
Conclusion
The study of global scenarios has become increasingly important in today’s globalised economy as the interconnectedness between the nations have increased. The impact of any major change in one nation can be felt by the whole world. The study of global scenarios has enabled the policymakers to study one nation or crisis to learn from the pitfalls or downfalls and then draft a policy accordingly. It also empowers them with the strength of data which helps them to prepare the nation/sector in a better manner.
