The World Enters an Era of Scarcity and Crisis: Die Welt

The situation in Ukraine and the coronavirus pandemic have accelerated the world's transition to an era of crisis and deficit. This viewpoint is expressed by the German publication Die Welt in its article.

According to the authors, the global decline is also linked to population aging and de-globalization, as reported by Life.ru. It notes that prices are rising worldwide, many businesses are shutting down, and hunger is threatening the Global South.

The article states that the era of cheap production has come to an end. This is attributed to China having integrated significantly into the global economy over the past thirty years, and the Iron Curtain is falling. A reverse process is now evident.

Economist Thijs Petersen says that the aging population in Europe is already noticeable and this trend will continue. Another issue is the scarcity of resources, along with the de-globalization process initiated by the coronavirus pandemic.

The growing scarcity of raw materials is compounded by climate policies enacted by many countries, which ensure higher prices for emission-heavy products. Transportation costs are also rising. Many current business models are losing their value.