TOPIC BRIEFS

Establishing the necessary frameworks to minimize the production of counterfeit goods.

 

Formulating the necessary frameworks for a socio-economic recovery mechanism against Covid-19.

Counterfeit goods are goods such as fake medicinal drugs, which are illegal “copies” of the original. Revenue from these fake goods have raised up to 43 billion dollars a year in the EU. Why does this matter? The black market. The increase in production of counterfeit goods is causing the black market to grow, taking the drug market with it. Once a corrupt corporation sees the pot of gold that comes from the profits of counterfeit goods, they will learn of the ways to produce other illegal goods such as drugs. You might think it is counterintuitive to attack the counterfeit goods rather than the drug movement itself, but if one steps on a pony’s tail, it will never be able to run. The counterfeit goods are the tail, and the drugs dealers are the pony.

 

Many consumers are unaware that counterfeit goods don’t undergo the same rigorous testing that legitimate manufacturers apply to their products to ensure they are safe. The fake products are often poorly made, do not comply with the WHO’s safety standards and could be potentially lethal.

It’s also an economic problem. Inflation can show itself as either higher prices or lower quality at the same price.

Suppose you buy a tool or appliance that should last five years. You get only three years out of it because it’s a shoddily built fake. Prices didn’t go up—but you still paid too much. That’s a kind of camouflaged inflation. It casts doubt on official numbers, which are often dubious in the first place.

As the coronavirus continues its march around the world, governments have turned to proven public health measures, such as social distancing, to physically disrupt the contagion. Yet, doing so has severed the flow of goods and people, stalled economies, and is in the process of delivering a global recession. Economic contagion is now spreading as fast as the disease itself.

This didn’t look plausible even a few weeks ago. As the virus began to spread, politicians, policy makers, and markets, informed by the pattern of historical outbreaks, looked on while the early (and thus more effective and less costly) window for social distancing closed. Now, much further along the disease trajectory, the economic costs are much higher, and predicting the path ahead has become nearly impossible, as multiple dimensions of the crisis are unprecedented and unknowable.

While unlikely, it’s not impossible that the Covid-19 saga draws out for the next one year or longer. Borders stay close and countries are forced to jump in and out of lockdowns over an extended period.

If these fears do come true, recovery would be L-shaped, meaning the economy will take a long time to return to its pre-coronavirus growth. Then, the world’s GDP could contract by a sharp 4 percent or even more. 

Securely integrating artificial intelligence as a non-threat to the human workforce.

In 2015, the United Nations approved of the 2030 Agenda for Sustainable Development. This agenda included 17 Sustainable Development. This new Agenda highlights a holistic approach to attaining sustainable development. Decent work and economic gain is one of these 17 goals and with the rise of Artificial Intelligence, many have questioned if it follows that goal or dangerously diverges from it. This age in technology could be classified as the fourth industrial revolution, which is characterized by self-driving car technology and advances in robotics. Technology has come a long way since the first computer was made in 1946, in fact the world has become reliant on technology nowadays, nearly 3.8 billion people use the internet today, which is equivalent to almost 40% of the world’s population. But, one of the most impressive feats that technology has achieved is Artificial Intelligence (AI). AI is the simulation of human intellect processes by computer systems and other machines. These processes include the collection of intelligence and rules for using that information, reasoning (using rules to reach probable or definite conclusions) and self-correction. Other applications of AI include expert systems and speech recognition. With the new surge of AI into the modern world, it has left many worried about AI. Many, including technology experts like Elon Musk, Bill Gates, and Stephen Hawking, are worried about Artificial Intelligence. Scientists warn that AI will eventually take 21 percent of the jobs in Japan, 30 percent of jobs in the United Kingdom, 35 percent of jobs in Germany, and 38 percent of jobs in the United States by the year 2030. By the next century, they will have taken over more than half of the jobs available to humans. This has left many in the workforce worried as AI and Robots threaten to unleash mass unemployment into the workplace