China paid homage Saturday to victims of the coronavirus in the place where the global pandemic began, as Americans were warned to wear masks amid fears the disease can be spread by breathing.
Apr 4, 2020
0
12
The world is approaching a low-fertility future. Although by 2100 more than 97% of countries and territories will have fertility rates below what is necessary to sustain population size over time, comparatively high fertility ...
Mar 20, 2024
0
112
Happiness and mental health are highest among people who eat seven portions of fruit and vegetables a day, according to a new report.
Oct 9, 2012
0
2
China reported a new cluster of coronavirus cases in Wuhan Monday after a month without fresh infections at the pandemic's global epicentre, as a northeastern city was placed under lockdown.
May 10, 2020
0
24
The World Health Organization on Friday raised its global risk assessment of the new coronavirus to its highest level after the epidemic spread to sub-Saharan Africa and financial markets slumped.
Feb 28, 2020
1
1615
Thus far, COVID-19 has cost at least $2.6 trillion and may cost ten times this amount. It is the largest global pandemic in 100 years. Six months after emerging, it has killed over 600,000 people and is having a major impact ...
Jul 23, 2020
7
27
Residents of China's Wuhan said Monday they were hopeful for the future and no longer afraid of COVID-19, three years after the city was locked down over what was then a mysterious virus.
Jan 23, 2023
0
8
China has put its homegrown coronavirus vaccines on display for the first time, as the country where the contagion was discovered looks to shape the narrative surrounding the pandemic.
Sep 7, 2020
0
8
New research led by Griffith University on Australia's Gold Coast and Andrés Bello University in Chile, has shown that surfing contributes about US$1 trillion a year to the global economy, by improving the mental health ...
Nov 20, 2023
0
72
A team at the University of Cambridge has shown how, in osteoarthritis patients, the viscous lubricant that ordinarily allows our joints to move smoothly triggers a pain response from nerve cells similar that caused by chilli ...
Aug 14, 2019
0
11
The world economy can be evaluated in various ways, depending on the model used, and this valuation can then be represented in various ways (for example, in 2006 US dollars). It is inseparable from the geography and ecology of Earth, and is therefore somewhat of a misnomer, since, while definitions and representations of the "world economy" vary widely, they must at a minimum exclude any consideration of resources or value based outside of the Earth. For example, while attempts could be made to calculate the value of currently unexploited mining opportunities in unclaimed territory in Antarctica, the same opportunities on Mars would not be considered a part of the world economy – even if currently exploited in some way – and could be considered of latent value only in the same way as uncreated intellectual property, such as a previously unconceived invention.
Beyond the minimum standard of concerning value in production, use, and exchange on the planet Earth, definitions, representations, models, and valuations of the world economy vary widely.
It is common to limit questions of the world economy exclusively to human economic activity, and the world economy is typically judged in monetary terms, even in cases in which there is no efficient market to help valuate certain goods or services, or in cases in which a lack of independent research or government cooperation makes establishing figures difficult. Typical examples are illegal drugs and other black market goods, which by any standard are a part of the world economy, but for which there is by definition no legal market of any kind.
However, even in cases in which there is a clear and efficient market to establish a monetary value, economists do not typically use the current or official exchange rate to translate the monetary units of this market into a single unit for the world economy, since exchange rates typically do not closely reflect worldwide value, for example in cases where the volume or price of transactions is closely regulated by the government. Rather, market valuations in a local currency are typically translated to a single monetary unit using the idea of purchasing power. This is the method used below, which is used for estimating worldwide economic activity in terms of real US dollars. However, the world economy can be evaluated and expressed in many more ways. It is unclear, for example, how many of the world's 6.6 billion people have most of their economic activity reflected in these valuations.
This text uses material from Wikipedia, licensed under CC BY-SA
