The 2008 Global Financial Crisis (GFC) was a pivotal moment in the annals of contemporary economic history. The United States’ housing market collapse evolved into a global economic crisis, resulting in the closing of businesses, the loss of trillions of dollars in wealth, and the unemployment of millions of individuals. For more than a decade, the reverberations of its ...
In the tightly interconnected global economy of today, a disturbance in one region can rapidly escalate into a shockwave that is felt worldwide. From the 2008 financial crisis to the COVID-19 pandemic and the recent inflationary pressures, the concept of **systemic risk**—the potential for the collapse of a single component of a system to bring down the entire network—has transitioned ...
Although the global economy is experiencing a recovery, not all individuals are experiencing the same level of recovery. Although certain nations are experiencing periods of robust growth and low unemployment, others are mired in cycles of social instability, debt, and inflation. A critical policy dilemma is at the core of this imbalance: **how to utilize public expenditure to facilitate an ...
No nation can navigate the tempest alone in an era characterized by global economic uncertainty, including rising debt, supply chain disruptions, inflation, climate shocks, and political instability. In times of economic turmoil, regional alliances are increasingly stepping up as first responders, despite the fact that international institutions such as the IMF and World Bank remain central actors. Regional cooperation is ...
The world has swung from one financial crisis to another in the past few decades, including the 1997 Asian Financial Crisis, the 2008 Global Meltdown, the COVID-19 economic upheaval, and the current challenges of inflation, debt distress, and geopolitical instability. The same truth is revealed by each crisis: the international financial system is not designed to prevent crises; rather, it ...
In a world that is becoming more interconnected, economic instability in one region can have a global impact. Currently, nations are confronted with a triple threat: **deflationary pressures**, **mounting debt**, and an imperative need for **sustainable recovery**. These challenges are not limited to developing nations or specific industries; they have a negative impact on both wealthy and poor countries, ...
The significance of international economic cooperation has never been more evident—or more urgent—in a world where financial tremors in one region can trigger global repercussions. The economic catastrophes of the past few decades have demonstrated that they rarely adhere to national borders. The domino effect is present, regardless of whether it is a banking catastrophe in the United States, a ...
As the dust settles from recent economic shocks—from the 2008 global financial crisis to the economic reverberation effects of the COVID-19 pandemic—one principle has become increasingly apparent: **financial meltdowns are not uncommon, and they are rarely contained**. In the current hyper-connected global economy, crises are disseminated at an unprecedented pace, and recovery frequently necessitates a coordinated global response. However, what ...
Over the past two decades, Turkey has made significant strides in the reform of its healthcare system. The **General Health Insurance Scheme (Genel Sağlık Sigortası – GSS)**, which was implemented in 2008 as part of a more comprehensive initiative to establish **universal health coverage**, is the foundation of this transformation. Currently, this system provides coverage for nearly 100% of Turkey’s ...
Despite being a **middle-income country**, Thailand has emerged as a global leader in the pursuit of **universal health coverage (UHC). Thailand has ensured that all citizens have access to comprehensive healthcare since the implementation of its **Universal Coverage Scheme (UCS)** in 2002. This has resulted in improved public health outcomes and reduced financial hardship. Thailand’s UCS is a testament to ...