The World Social Report is the flagship publication of the United Nations Department of Economic and Social Affairs on major social development issues.

The global automotive market is experiencing transformative shifts, with China emerging as a leading force in electric vehicle (EV) production and exports. In contrast, traditional powerhouses like Germany, Japan, the Republic of Korea, and the United States are facing stiff competitiveness challenges.

Monetary policy, implemented through changing interest rates, can lead to gender differentiated impacts on work, income and consumption, savings, wealth, and asset ownership.

After years of turbulence and significant volatility in economic output, the world economy is on a more stable trajectory.

About 20 years ago, eight Eastern European countries joined the European Union. EU membership facilitated economic growth, transfer of new technology and knowledge to these countries, leading to the modernization and diversification of their production and export base.

Climate change has emerged as a source of supply shocks and a key risk to the global economy. While localized supply shocks may have a limited impact, multiple severe events – such as those associated with climate change- can push inflation up.

The majority of central banks kept their policy rates unchanged in the first quarter of 2024, closely watching the decisions of the United States Federal Reserve and the European Central Bank.

Given the strong interactions between domestic debt and the broader economy, policymakers must carefully weigh its associated trade-offs while determining the optimal debt structure to minimize chances of domestic debt default.

Regional integration in West African economies faces further challenges as Burkina Faso, Mali, and Niger announced the intention to withdraw from the Economic Community of West African States (ECOWAS).