Globally, an economic downturn has been observed in 2023, and the global growth forecasts for the year have been downgraded from their 2022 levels. The present working paper aims to explore causes and consequences of the global economic slowdown in 2023, highlight the potential sources of upside and downside risks to the global economy, and analyse the future growth outlook for 2024 and beyond.
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The question of our overall trade balance, how much we export and import, is one that has always been of significant concern, and one that has bedeviled many successive administrations, particularly those of recent times. It is generally ideal for a country to have a high level of both exports and imports, with roughly an equal amount of both. If exports are too great, there are negative effects such as strong appreciation of the currency, the need to reinvest surplus forex, and inflation.
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Recently in its foreign policy initiatives, China has emphasised the importance of mutual cooperation among nations to meet the collective goals of humanity, which it believes are harmoniously aligned. In this regard, Beijing has issued multiple documents – commonly referred to as white papers – proposing a common vision for a global community of shared future.
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The persistent violence by Israel has spanned decades, yet the recent escalation, in the aftermath of Hamas’s ‘Operation Al Aqsa’, is unparalleled. The overwhelming evidence of a massive humanitarian crisis in Gaza is deeply shocking and heart-wrenching.
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On 18 October 2023, the Russian State Duma (lower house of parliament) voted unanimously to de-ratify the Comprehensive Test Ban Treaty (CTBT). The treaty seeks to ban nuclear tests of all kinds, by all states, anywhere. It has 187 signatories and 178 ratifications. Russia had signed the CTBT on 24 September 1996, once it was opened for signature, and ratified the treaty in 2000.
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There was a time when Peshawar, City of Flowers, really was a beautiful floral abode. The same is true for Karachi, the City of Lights, which was once a great beacon of the East. Today, both cities are characterized by ghettoism, crime, a drug problem, and squalor. There are many factors underpinning that advanced degradation, but one thing that local residents point to without equivocation is the "Afghan problem,"
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The first nine months of 2023 depict an impoverished internal security landscape inhabited by the revival of terrorism in Pakistan. According to a recent report by the Islamabad-based Centre for Research and Security Studies (CRSS), 700 security personnel and civilians lost their lives in various militant attacks from January to September 2023, which is a 19% increase in the number of fatalities as compared to 2022.
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Artificial intelligence (AI) has emerged as driving force behind transforming various aspects of our lives from making chores easier to enhancing industrial efficiency. However, as this technological advancement continues to expand at an unprecedented rate, fears of unregulated growth, analogous to a ‘runaway horse’ have emerged.
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In a world more connected than ever, the allure of travel has become irresistible, transforming once-hidden gems into bustling tourist magnets. However, as the global tourism industry expands at an unprecedented rate, the shadow of ‘overtourism’ looms large over the most cherished destinations. Tourism involves the movement of people to places outside their usual environment for leisure, business, or other purposes.
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Cloud computing refers to the accessibility of a wide range of ‘resources including applications, servers, data storage, development tools, and networking capabilities.’ These resources remain stored at off-site data centres managed by Cloud Service Providers (CSPs), allowing users to easily access them over the Internet without users needing them physically on their devices.
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All views and opinions expressed or implied are those of the authors/speakers/internal and external scholars and should not be construed as carrying the official sanction of CASS.