- Grade: HSC
- Subject: Economics
- Resource type: Notes
- Written by: N/A
- Year uploaded: 2021
- Page length: 9
- Subject: Economics
Resource Description
| Syllabus | STAT | FACT |
| Gross World Product | GWP is 50 x its level in 1960 | |
| GLOBALISATION
Global Trade |
WTO predicts trade drop of 13-32% in 2020
The value of exports of g/s is US$24.9 trillion (30% of global output) in 2019 |
COVID-19 created disruptions to global supply chains with countries experiencing the adverse effects of globalisation |
| Global Exchange Rates | Exchange traded derivatives at US$95 trillion in 2019 | Extremely volatile during COVID-19 |
| Global FDI | 2020 FDI flows are half their level of 2015 (1 trillion this year) | China’s FDI declined 13% since COVID-19 |
| International Division of Labour | 80 million people forcibly displaced at the end of 2019 | Drop in working hours was equivalent to losing 400 million full-time jobs.
Sectors traditionally dependent upon a migrant labor force especially affected (agriculture and hospitality) |
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