New Wave in Global Economic Policy The new wave in global economic policy is characterized by fundamental changes in countries’ approaches to the economy. Various factors, such as the COVID-19 pandemic, geopolitical uncertainty, and climate change, have triggered significant economic policy transformations. Countries are now focusing more on sustainability and resilience, instead of just traditional economic growth. One of the main aspects of this new wave is increased attention to sustainability. Many countries are adopting green economic policies, where investment in renewable energy, environmentally friendly transportation, and technological innovation are the main focus. These investments are not only economic, but also have a positive impact on the environment, supporting the agenda of the Paris Agreement. In addition, the emergence of the circular economy concept provides a new dimension in policy. Circular economy principles encourage efficient use of resources and reduction of waste. European countries, such as Sweden and the Netherlands, have taken the lead in implementing policies that support this model, with the aim of shifting the paradigm away from traditional linear economies oriented towards unsustainable growth. In terms of economic growth, GDP projections show that countries that integrate sustainability in their strategies have better growth potential in the long term. This leads to improved social indicators, including poverty reduction and improved quality of life. This new wave is also encouraging closer international collaboration. In facing global challenges such as climate change and political uncertainty, international cooperation becomes increasingly important. Organizations such as the G20 and OECD play an active role in facilitating dialogue between countries to develop policies that benefit all parties. Furthermore, digitalization has become the main pillar in the new economic policy. Countries are increasingly utilizing information technology to increase efficiency and innovation. Digital transformation in the public and private sectors not only increases productivity, but also opens up new opportunities in emerging employment opportunities, such as information technology and data analytics. International trade is also experiencing revitalization with increased reliance on global supply chains. However, many countries are starting to realize the importance of diversifying production to reduce risks. Initiatives such as “friendshoring” are growing, in which countries choose to forge stronger trade relationships with partners deemed more stable and trustworthy. Finally, social welfare considerations are becoming increasingly urgent in economic policy. Rising income inequality is pushing countries to implement more progressive fiscal policies, including higher taxes on wealthy individuals and large corporations. This policy aims to create balance in the distribution of resources and increase access to basic services such as health and education. With all the above dynamics, the new wave in global economic policy creates space for innovation and collaboration. Countries that are able to adapt to these changes and implement responsive policies will be better prepared to face future challenges. The balance between economic growth and sustainability is now a top priority, making this new era an opportunity to formulate a more inclusive and sustainable economy.
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