About the Blog
World order today requires a method whereby interstate relations could be conducted, and International law fills this gap. Therefore, it is necessary to understand International Law as it helps to study the interaction of states with the international community. In this series we will explore and analyze the international economy and how it has been affected by COVID-19. The series will also explore how state actions and economic sanction interact with principles of International law and fulfill the ultimate goal of securing peace and order in the world.
Are Economic Sanctions Equivalent to the Use of Force? by Palak Nanguru
World Economy from the current lens; Realize, Reimagine and Reinvent by Rahul Prasad Sambhu Manikonda and Akshata Ramesh
The world seems to be standing its ground after achieving a seemingly prospective revelation in fighting a cruel battle against COVID-19. We have witnessed an exodus, irreparable losses, and massive economic slowdown in just 7-8 months of its spread.
Surprisingly, developed countries like the US and Spain have witnessed failures in managing their health and economic infrastructure. The economic implications of the pandemic have created threats for the world economy, leading to recession and high unemployment, after the Great Depression of the 1930s. Therefore, human needs are predicted to adversely impact the overall economic growth adding to rising unemployment, poverty and high civil instability.
The common man has reasons to question the regulation of untouched treasuries, foreign-techno participation and political instabilities in their countries; especially when the nation is attempting to prove its success against the rest of the world. Although, as individual nations, we are in high gears to protect our men and money, we often forget that the world is interconnected in a vicious circle and therefore, socio-economic, and legal justice must also be cascaded.
Are we, as residents of this globe, aware of the killers of mankind born out of our ardour for a satisfactory standard of living? The battle is in our sights and so are we confronting the questions raised.
Understanding the Impact of COVID-19 on the Global Economy by Pratyush Chaturvedi
It’s been months since the world has been suffering from the curse of the COVID-19 pandemic. The pandemic has had an adverse effect on the international economy with many countries officially declaring a period of economic recession. The human costs of lost lives will permanently affect global economic growth in addition to the cost of rising levels of poverty, lives upended, careers derailed, and increased social unrest. The impact and causes for the sharp fall in economic growth can be attributed primarily to the lock-downs imposed by various nations bringing international trade and commerce to a complete halt. This lock-down has, in turn, caused a disruption of supply chains across multiple sectors, which thus, leads to a downfall in market demand, the slump in profits levels and rapid unemployment. This essay below discusses the impact of the COVID-19 pandemic on the international economy and what lies ahead in the future for global trade and commerce.
International Economy in the Midst of the Novel Coronavirus: An Analysis of the Most Affected Sectors by Tanuj Sharma
This article was written to determine the potential effects of the coronavirus pandemic on the global economy. Due to worldwide lockdowns, several countries have witnessed an all-time low in their respective economies. This article attempts to segregate and select certain sectors which have borne the brunt of the COVID lockdown and determine what can be the potential effects on them. These economic sectors are significant in terms of how often we come across them in our daily lives and how the change in their economic dynamic might affect us as well. Not only the negative effects of the lockdown, this article also seeks to highlight how technology has stood as the saviour of several businesses, being one of the sectors witnessing a huge jump in its market. Finally, this article aims to be instrumental for all who ought to know how the international economy has changed before and during the lockdown.
State Responsibility for the actions of Terrorists by Gyanda Kakar