Efforts to denuclearize the country have proved unsuccessful. - Definition, Styles & Strategies, What is the United Nations? The TPLF led a coalition which ruled Ethiopia for almost three decades prior to Abiy taking office in 2018. While it may not get as much time on the news as the U.S.–China trade war, another conflict is occurring between the second- and third-largest economies in Asia, which was, triggered by accusations that South Korea had leaked sensitive information to North Korea, Though Japan no longer threatens Western economic hegemony like it did in the ‘80s and ‘90s, it remains the third-largest national economy in the world, which is why. If the Chinese economy were to falter, the impact on the rest of the world would be immense, Western countries haven’t experienced a serious oil shortage since the, Some analysts are predicting another oil shortage in the near future. Access to resources can lead to conflict in a variety of ways. While most leaders don't outright declare money itself as the goal of conflict, and invading armies may not carry out carts of gold and silver any more, economics is still very important in determining why countries go to war. If the Chinese economy were to falter, the impact on the rest of the world would be immense, as many countries now rely on China both for cheap consumer goods and as a market for their own exports. Amhara militia men, in combat alongside federal and regional forces against the northern region of Tigray, receive training in the outskirts of the village of Addis Zemen, north of Bahir Dar, Ethiopia, on November 10, 2020. Now, it appears that the Italian banking sector is at risk of failing, which could seriously impact the eurozone if it’s forced to bail out the country. Federal government forces loyal to Prime Minister Abiy Ahmed are making advances in the semi-autonomous northern Tigray region, which is currently controlled by the Tigray People's Liberation Front. As this millennium barrels toward its third decade, the world is in the throes of greater political conflict and instability than it has seen in a generation. Create your account. Services. lessons in math, English, science, history, and more. As natural disasters displace an average of 24 million people per year, the global economy will have to accommodate them in the near future. 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