Emerging market economies and sustainable development of global economies-challenges and opportunities

Abstract

Emerging Market Economies (EMDE) are facing challenges and the performance of the Large Emerging Market (LME) economies are also with issues of concern and makes global development a fix. The global slowdown and financial crisis bring uneven development. Adding to this, epidemics like COVID-2019 also pushed the world economies down by at least 0.04 percent with its cascading effects to come in the future. The trade positions in the EMDE regions were weak due to uncertainties and lower demand for commodities. The financial markets were in stress, investment has reduced, lower capital, low productivity, lesser business climate etc., in the EDMEs. The real GDP of EDMEs is expected to grow an average of 6.2 percent during 2017-21 and it is 0.3 percent lower than 2016 position. Advanced economies perform comparatively lower in the world output. The output of Emerging and Developing Asian countries output was 6.6 percent in 2017 and it declined to 6.4 percent in 2019