Poster Session 2, 11:30 AM - 12:15 PM: Campus Center Auditorium [A53]

What We Can Learn From Past Global Crises to Resolve Current Ones and Prevent Future Disasters

Presenter: Spenzer Sanon

Faculty Sponsor: Kara Roche

School: Mount Wachusett Community College

Research Area: Globalization and Development

ABSTRACT

Since global trade started in the late 16th century, it never stopped growing fast for the past 4 centuries. Over those centuries, several fortunate and unfortunate events from innovation to disaster have improved or disrupted how the countries of the world are doing business with each other. The 21st century is marked by countless innovations as well as countless geopolitical conflicts, caused by a shift in balance of power and influence, plunging the world into a wave of economic instability and uncertainty. However, somehow, we managed to escape the worst thanks to dedicated experts who found a solution. As we are approaching the first third of the 21st century, we are facing new challenges intensified in 2020 by the COVID19 pandemic that revealed how delicate our systems were all those past years. Since then, the world has been facing increasing crises like inflation, unaffordability, the K shaped economy caused by trading restrictions, and conflict escalations that could worsen the situation. By exploring scholarly articles, interviews with business partners, official economic data, and looking at the global experts' opinions, my presentation will focus on the documentation in history and global trade, where the economy was seriously challenged but where we managed to recover some stability. As we are concerned about the instability we are facing, it really matters to us that current experts find a sustainable solution for those current crises to clear the path to the rise of the next generation and leave guidance to help them resolve future crises.

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