Research on the Inflation and Unemployment under COVID-19 and Ukraine Conflict

Abstract

The global economy has been under a lot of stress and volatility since the COVID-19 virus broke out in 2020. The Russian-Ukrainian war that broke out in early 2022 not only escalated regional tensions but also brought more instability factors to the global economic development in the post-epidemic era. A symbiotic system of various nations has been created by the growth of economic globalization, and because the industrial, supply, capital, and service chains are all intertwined and have a strong linkage effect, the financial effects of emergencies like epidemics and wars will be greater. This article examines the development of the world economy under the dual impact of the epidemic and local wars through the analysis of major economic indicators of the United States, the European Union, and China from 2019 to 2023, including GDP, unemployment, and inflation. In addition, we will systematically analyze the monetary policies adopted by the three countries in response to economic shocks, evaluate their effects, and predict future economic development trends.