Current Global Recession Research Articles

Innovative Behavior as a Mediating Impact of Work Ethic in Improving the Performance of Business Actors in South Minahasa Regency in the Era of Global Economic Recession

Human resources are an essential and vital asset in an organization. An organization cannot function without human resources. Facing the continuous development of the times and the increasingly evident technological disruption, business competition and competition for human resources are becoming more intense, including for business actors. They are required to have a high work ethic, be adaptable, responsive to innovation, exhibit innovative behavior, and be open to technological changes. Business actors must also be aware of fundamental changes in generating new ideas and value. To achieve this, business actors need a high work ethic through innovative behavior to improve their performance in maintaining and developing their businesses. This phenomenon is relevant in the current era of global economic recession, where many business actors are experiencing bankruptcy, closure, or insolvency, including in various regions. This study aims to analyze and develop variables and instruments that can identify indicators influencing the performance improvement of business actors in the current global recession era. The research method includes observation, population identification, sample determination (business actor respondents), surveys, questionnaire distribution, and data collection through closed and open-ended questions to obtain accurate results. The data obtained are then processed and evaluated for seminars and publication. The results of the study indicate that a high work ethic has a positive and significant direct effect on the innovative behavior of business actors, a high work ethic positively and significantly affects business performance, innovative behavior positively and significantly affects business performance, and a high work ethic affects business performance mediated by innovative behavior. This research is expected to contribute positively to all stakeholders (academics, businesspeople, government) in enhancing competitiveness and business sustainability amid the challenges of the global economic recession.

The 2023 LCGC Salary Survey: How Workers Are Navigating A Tough Economic Landscape

The fallout from the Covid-19 global pandemic remains in progress in 2023. Because of the current ongoing global recession, we anticipated that many workers would be concerned about their current jobs and how to adjust to rising inflation. In this year’s LCGC Salary Survey, we sought to explore these topics. In addition to compiling information about the average salary trends and reported on how these trends compare to previous years, we focused this edition of our questionnaire on the current economy, asking respondents to offer their opinions on whether a recession is taking place where they reside, and what impact it is having on them mentally and financially. The results from our survey indicate that anxiety about the current state of the economy was on respondents’ minds in 2023.

Digital commoning and post-capitalist crypto-economies: The case of FairCoop

In the context of the current global recession, big tech and big data corporations have amassed a disturbing amount of power and influence in this new phase of platform and surveillance capitalism. Against this backdrop, and inspired by Gibson-Graham’s invitation to look for difference rather than dominance, this paper considers digital commons as a viable post-capitalist alternative. In particular, this research’s focus will be on the international activist collective, FairCoop. This group, inspired by ideas of degrowth, decentralization and post-capitalism, has developed its own crypto-currency, FairCoin, along with tools and infrastructures that seek to challenge the economic and digital status quo. Grounded in ethnographic fieldwork, this investigation explores the practices and experiences of this alternative economic project. Drawing on commoning literature, the paper engages with the challenges that such initiatives face, such as the risky entanglements with crypto-markets, governance mechanisms, transparency and management issues, scalability and individual burnouts. By studying FairCoop and associated collectives such as Komun and Kaana, this paper demonstrates how alternative economies, blockchain initiatives and digital commoning can contribute to more progressive and transformative technological innovation. Yet, focusing on the practice and (re)production of the commons reveals a multifaceted picture. I argue that if we are to study the present and future of digital commoning, it is crucial to engage with difficult issues such as tensions, hierarchies and democratic deficits. These cases will be discussed to further the debate on the possibilities for post-capitalism in the digital era and bring alternative economies, technological innovation and commoning perspectives into a fruitful dialogue.

BRI Economic Corridors: Implications for Future Economic Development in Global Recession

This article explores the implications of the Belt and Road Initiative (BRI) Economic Corridors for future economic development, especially in the context of the current global recession. The BRI, launched by China in 2013, aims to connect Asia, Europe, and Africa through a network of infrastructure projects, including the development of economic corridors. These corridors are expected to boost trade, investment, and economic growth in the participating countries. The article provides an overview of the BRI and its economic corridors and discusses the potential benefits and challenges of the initiative. It analyzes the impact of the global recession on the BRI and how the initiative can help mitigate the effects of the crisis. The article also examines the role of the BRI in promoting sustainable development and addressing environmental concerns. A qualitative research methodology will be implemented based on a market analysis, expert interpretations, literature review, and assessment of online sources. Moreover, the article will cover the politico-economic considerations, infrastructure development opportunities, shipping and transportation facilitation, along with trade facilitation and opportunities along the corridors. The article recommends that policymakers and stakeholders work together to maximize the benefits of the BRI while minimizing the risks and negative impacts. The study concludes that the BRI Economic Corridors have the potential to become a major driver of economic development, particularly in the face of the current global recession. However, the success of the initiative will depend on addressing several challenges, including governance, financing, and environmental sustainability.

Uticaj Covid-19 pandemije na zaposlenost u Republici Srbiji

The main factor of the current global recession is a non-economic nature, i.e. the main cause of the global recession is the Covid-19 pandemic. For this reason, we cannot compare the current economic situation with some earlier economic crises. The employment decreasing is a basic feature of every crisis that has gripped the world. The emergence of the Covid-19 pandemic led to the closure of a large number of countries, i.e. we can freely say almost the entire world, which resulted in an increase in the unemployment rate. All future research should be focused on creating a labor market that will be less susceptible to the negative effects of world crises. The research work indicates that the labor market of the Republic of Serbia is extremely inherent in the impact of the global recession, i.e. the unemployment rate in the Republic of Serbia increased during the Covid-19 pandemic.

DETERMINATION OF ATTITUDE OF COMMUNITY PHARMACISTS TO MEDICINE INVENTORY MANAGEMENT IN DELTA STATE, NIGERIA

Background: The current global economic recession and harsh practice environment have imposed a demand on community pharmacy to ensure efficient and effective drug stock (inventory) management to enhance cost savings for valuable professional profit advantage.
 Objective: This study presents the determination of the attitude of community pharmacists on medicine inventory management.
 Methods: A cross-sectional descriptive survey of 125 community pharmacists selected using a simple random sampling method. The primary data were collected with the aid of a pretested semi-structured questionnaire. The sample size was determined using the Taro Yamane’s formula for a finite population. The questionnaire comprises three main sections to study the attitude of community pharmacists to medicine inventory management and are designed using simple statements on a Likert-type scale with five alternative responses having weights scores of 0-4. The collected data were subjected to descriptive and inferential analysis with a significance level of 5% using the Statistical Package for the Social Sciences (SPSS) version 21.0 for Windows (SPSS, Chicago, IL).
 Results: The response rate was 125 (96.2%) and the questionnaire reliability was 0.97. Most respondents were located in Warri 69 (75.2%), with almost evenly split sex categories with the male 70 (56.0%) being slightly more, age distribution almost bell-shaped with the 30-39 years range being the modal range. Most of the survey respondents were superintendents 98 (78.4%), computer 79 (63.2%) usage in their premises with 67(84.8%) being used for inventory management purposes. Community pharmacists showed a negative attitude (MWA=2.46) towards inventory management with a significant association with the gender respondents (x2=9.32, p=0.01) however, males being more negative than females. The result shows that the community pharmacists in Delta State had a negative attitude towards inventory management. Adequate training through self-development is highly advocated.
 
 Peer Review History: 
 Received: 28 October 2021; Revised: 10 August 2022; Accepted: 6 September, Available online: 15 September 2022
 Academic Editor: Dr. Asia Selman Abdullah, Pharmacy institute, University of Basrah, Iraq, asia_abdullah65@yahoo.com
 UJPR follows the most transparent and toughest ‘Advanced OPEN peer review’ system. The identity of the authors and, reviewers will be known to each other. This transparent process will help to eradicate any possible malicious/purposeful interference by any person (publishing staff, reviewer, editor, author, etc) during peer review. As a result of this unique system, all reviewers will get their due recognition and respect, once their names are published in the papers. We expect that, by publishing peer review reports with published papers, will be helpful to many authors for drafting their article according to the specifications. Auhors will remove any error of their article and they will improve their article(s) according to the previous reports displayed with published article(s). The main purpose of it is ‘to improve the quality of a candidate manuscript’. Our reviewers check the ‘strength and weakness of a manuscript honestly’. There will increase in the perfection, and transparency. 
 Received file: Reviewer's Comments:
 Average Peer review marks at initial stage: 6.0/10
 Average Peer review marks at publication stage: 7.0/10
 Reviewers:
 Rusmir Baljic, Clinic for infectious diseases, Clinical center University of Sarajevo, Bosnia and Herzegovina. rusmir.baljic@gmail.com
 Dr. Govind Vyas, Compliance & Regulatory Officer Inva-Tech Pharmaceuticals LLC, New-Jersey, USA, govindvyas03@gmail.com
 Prof. Dr. Hassan A.H. Al-Shamahy, Sana'a University, Yemen, shmahe@yemen.net.ye
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Cloud Computing Forensic Challenges for Law Enforcement

Cloud computing is a relatively new concept that offers the potential to deliver scalable elastic services to many. The notion of pay-per use is attractive and in the current global recession hit economy it offers an economic solution to an organizations' IT needs. Computer forensics is a relatively new discipline born out of the increasing use of computing and digital storage devices in criminal acts (both traditional and hi-tech). In the last decade computer forensics has developed in terms of procedures, practices and tool support to serve the law enforcement community. However, it now faces possibly its greatest challenges in dealing with cloud computing. Through this paper we explore these challenges and suggest some possible solutions. Keywords: Forensic, Cybercrime, law Enforcement, Digital Universe, Cyberspace, Security BOOK Chapter ǀ Research Nexus in IT, Law, Cyber Security & Forensics. Open Access. Distributed Free Citation: Samuel Opuni Boateng (2022): Cloud Computing Forensic Challenges for Law Enforcement Book Chapter Series on Research Nexus in IT, Law, Cyber Security & Forensics. Pp 339-344 www.isteams.net/ITlawbookchapter2022. dx.doi.org/10.22624/AIMS/CRP-BK3-P54

THE EFFECT OF STARCHITECT’S DESIGN ON HOUSING IMAGE ACCORDING TO RESIDENTS' PERCEPTION

The development of residential real estate in Indonesia continues to grow. Although it cannot be denied that the current global economic recession affect the property business, housing development must continue to grow in order to accommodate the population demand. The recent economic conditions make housing developers have to make various innovations for convincing the public to buy their housing units. One of the innovations carried out is to recruit famous architects to collaborate in designing their housing. There are those who collaborate to design housing units in their housing clusters, but there are also those who collaborate since the creation of masterpaln to housing units. Of course, with the hope of cooperating with famous architects will be able to make their housing more pretentious, preferred by consumers, and ultimately bought by consumers.While on the community side, what do they expect by buying a house in housing designed by a well-known architect? Is it because of prestige, is it because of other things? This phenomenon is what makes researchers interested in finding out what the influence of a famous architect on the image of a housing in the eyes of the public.The purpose of this study was to determine the effect of the design of starchitect.

Economic Models of French Amateur Soccer Clubs. From One Crisis to the Other: Which Transformation?

This article presents economic models at work in French amateur soccer clubs playing National 1 and National 2 tiers. Teams’ sporting performance and clubs’ financial results as well as their revenue and expenditure statistical distribution are analysed by means of Principal Component Analysis. Then a k-means methodology is implemented in view to defining archetypical clusters that characterise French amateur soccer clubs during the 2008-2020 period. The latter span of time opens a window of opportunity for understanding transformations in club economic models since the subprime crisis and up to current global economic recession triggered by the Covid-19 pandemic. Following the club taxonomy, a comparative static analysis shows that more amateur soccer clubs are in more satisficing financial shape at the dawn of the sanitary crisis than when they have been facing the subprime crisis. The so-called “virtuous modesty” cluster includes a greater number of clubs in 2019/20 than in 2008/09.

Horizons of the post-pandemic recovery of the world economy

The shock experienced by the global economy as a result of the novel coronavirus pandemic is un-precedented in strength and specifi city of its impact, and the current global recession seems to be becoming protracted and will require a restructuring of the mechanisms of multilateral economic regulation that developed earlier. The purpose of our study was to analyze the key aspects, opportunities and mechanisms for the restoration of the world economy in the short and medium term. We came to the conclusion about the greater scale of the current global crisis in comparison with the previous recessions, which determines the uncertainty of the further trajectory of the impact of the pandemic on the world economy, and its particular impact on the economies of developing coun-tries. We believe that the structural reform of the economies of diff erent countries will accelerate due to the current crisis, which will also be facilitated by further digitalization and automation. In a pandemic, to revive economic growth, countries need to build confi dence from investors and con-sumers, and the economy must increasingly detach itself from speculative fi nancial markets to the real sector. Despite the opposite scenarios of the global economic recovery, it is now more related to progress with vaccinations, which is a key factor in lifting quarantine restrictions and further eco-nomic growth. At the same time, it is necessary to solve the problem of economic productivity growth and challenges in the development of international borrowing. Multilateral cooperation be-tween countries should be aimed at eliminating over-indebtedness, overcoming imbalances in the balance of payments, and improving the fi scal and monetary policies of key countries of the world.

Features of the New Type Global Recession

Research background: The increasing global economic decrease that got the name of Great Lockdown had world pandemic as its trigger. It is already obvious that by its depth, breadth and the number of economics included this recession can be compared to the Great Depression. Shocks nature influences a lot on the structural changes during the recession. The tertiary sector industries, which development is determined by globalization and that are typical for post-industrial economies have the heaviest losses. Now it is impossible to predict are the de-globalization processes permanent or just temporary and which changes in sectoral structure will stay with us after the COVID-19 pandemic. The period of sharp drop is finishing now and it’s obvious that the specific nature of current recession will reveal itself during the market adjustment to the new conditions. Purpose of the article: is to highlight the specific features of recession caused by COVID-19 pandemic, distinguishing it from the previous global recessions. Methods: this article research is based on comparative analysis of main macroeconomic variables trends during the global recessions. Findings & Value added: Current global recession specific features highlited in this article are: industries with a high share of employment are subject to the greatest compression; the economic recession took its origin as a result of the supply shock, and it has a clearly defined industry specifics. The growing uncertainty is limiting the recovery growth potential.; Keynesian measures of countercyclical regulation appeared to be ineffective during the release restrictions phase.

Management of risks of the Russian banking system in the context of economic crisis

Subject. The article addresses the Russian approach to mitigating major banking risks that result from the current global economic recession. Objectives. I focus on the study of the existing system for banking risk regulation in Russia and its potential under the prevailing circumstances. Methods. The study draws on general scientific methods (analysis, synthesis, comparison, comparison, generalization, abstraction) and elements of comparative, economic and statistical, structural-functional analysis. The paper rests on the provisions of Federal laws of the Russian Federation, regulations of the Bank of Russia, and the IMF data. Results. The paper analyzes causes and effects of the aggravation of the main banking risks, defines stages of actions taken by Russian banks to minimize the negative impact of risks, investigates modern methods of quantitative and qualitative assessment of existing risks and possible risk-related financial losses, unveils the pros and cons of certain methods. It presents a detailed description of possible actions on the part of banks' management to respond to emerging risks and mitigate them to acceptable level. Conclusions. To be sustainable, the Russian banking sector should have a strong risk management system, enabling to evaluate and predict changes in the degree of risks and financial losses caused by them.

Research on Risk Management in Ocean Transportation Enterprises Based on Game Strategy Model

Shang, S.; Zhao, Y., and Chen, Z.-M., 2020. Research on the innovation of risk management in ocean transportation enterprises based on game strategy model. In: Liu, X. and Zhao, L. (eds.), Today's Modern Coastal Society: Technical and Sociological Aspects of Coastal Research. Journal of Coastal Research, Special Issue No. 111, pp. 268–271. Coconut Creek (Florida), ISSN 0749-0208.In the current global economic recession, enterprises themselves cannot resist industry risks on their own. Therefore, shipping enterprises need to form an alliance to work together to mitigate the risks brought by the global financial crisis. Enhancing the degree of collaboration between enterprises may not only reduce the cost of enterprise operations, but it can also better diversify the risks incurred by the world economy and trade. In order to improve the degree of cooperation between shipping enterprises, this study investigated the profit distribution among shipping industry chain enterprises. Based on the idea of game theory, this study first used the Stackelberg model to solve for the profit distribution scheme under various cooperation situations of member enterprises in the shipping industry chain. Then, the theory of cooperative game was adopted, and the Shapley value method was used to solve the benefit distribution scheme. Results show that this model can improve the overall risk management ability, and this is of great significance to improve business stability and stimulate the development potential of a company.

Критичні чинники та перспективи відновлення світової економіки в умовах глобальної рецесії COVID-19

The article focuses on identifying and systematizing the hallmarks of the COVID-19 recession as unprecedented in terms of the both spread and impact on the global economy in the phase of business activity downturn. The dynamics of the main indicators of economic growth are researched and it is substantiated that the negative linear forecast trends allow forecasting the long-term recovery period after the current global recession. It is shown that the global recession of 2020 negatively affects the prospects for the recovery of major national economies of the world, given the high probability of the introduction of repeated quarantine restrictions. Based on the analysis of the dynamics of the index of global economic uncertainty, the world economy is confirmed to be in the most uncertain state during the period of observations. According to the analysis of the values of the barometer of world trade in goods in 2020, negative changes in the structure and dynamics of foreign trade turnover and doubt for the rapid recovery of global supply chains were evidenced. Based on the generalization of the results of the study, key distinctive signs of the COVID-19 economic recession have been systematized justifying that, in addition to any recession inherent in the loss of growth rate of world production, the current economic crisis is accompanied by a drop reaching the critical deadlines of a number of indicators of the intensity of global development, which confirms its unprecedented spread and impact on the world economy. It is substantiated that the confirmation of the determined trends allows to predict the long-term negative consequences of the modern global recession, which leads to the need to substantiate the directions of recovery of the world economy and foreign trade cooperation of the countries under crisis conditions.

Investment attractiveness and development opportunities of agricultural enterprises

Purpose. The aim of the article is theoretical substantiation of the essence of investment attractiveness, analysis of trends and identification of opportunities for further development of agro-industrial enterprises. Methodology of research. General and special methods are used during the research, in particular: monographic and systematic analysis – to substantiate the essence of investment attractiveness and to determine the possibilities of further development of agro-industrial enterprises; abstract and logical and graphic – in forming the conceptual bases for investing in the development of enterprises. Findings. The essence of investing in the development of enterprises as a system of actions to attract real and potential internal and external investment resources, sources, levers and measures, taking into account the institutional and factor influence on the given course of investment processes in the short, medium and long term, is determined on the basis of generalization of scientific approaches which leads to qualitative, quantitative and structural changes in the production and economic activity of agro-industrial enterprises on an innovative basis, achieving a high result in the case of coordination and consolidation of efforts of business structures and bodies of state power and local self-government, solving problems and prioritizing investments by the nature of strategic orientation. The necessity of providing investment development of enterprises is considered taking into account the influence of peculiarities of investing material, intangible and bioactive assets on an innovative basis, which determine the scientific theoretical and methodological approaches and applied aspects, strategic importance of the basic and life-supporting branch of the national economy. The rating positions of the investment attractiveness of Ukraine in the international studies of the economic development of the countries are revealed as rather weak and not the best. However, at the same time, it is revealed that Ukraine has significant investment and human potential, the effective use of which may be a prerequisite for gradual enhancement of the country's international competitiveness in world rankings. We believe that global international rankings should be seen as additional tools for making investment decision. It is determined that at present the most pressing problem for foreign investors remains the protection of their rights and the ability (easiness) of doing business. Therefore, the efforts of the state should be directed to solving problems in the commercial sphere and forming a favourable business environment, increasing investment in the agricultural sector, stabilizing sources and optimizing capital structures, ensuring efficient distribution of investments in the formation of assets of agricultural producers by their size. Originality. The definition of the essence of investing in the development of agro-industrial enterprises has been further developed; the scheme of conceptual bases for ensuring the investment attractiveness and opportunities for further development has been formed, taking into account the impact of the current global economic recession. Practical value. The results of the study can be used to expand the base, diversify sources and increase the volume of investment with the introduction of the land market, in the process of creating and commercializing innovations and activation of innovative development of agro-industrial enterprises, the main priorities of which should be the realization of internal production factors. Key words: investments, innovations, development, enterprise, attractiveness, commercialization, efficiency.

The Cu-Ni mineralization potential of the Kaimuqi mafic-ultramafic complex and the indicators for the magmatic Cu-Ni sulfide deposit exploration in the East Kunlun Orogenic Belt, Northern Qinghai-Tibet Plateau, China

The East Kunlun Orogenic Belt experienced two periods of mantle-derived magmatic activity during its post-collisional stages. One occurred during the Late Silurian-Early Devonian, and the other occurred during the Middle-Late Triassic. The Late Silurian-Early Devonian Xiarihamu mafic-ultramafic intrusions were found to be associated with a giant magmatic sulfide Ni-Co deposit discovered in 2012. The U-Pb age of websterite in the Kaimuqi mafic-ultramafic intrusion is 221.1 ± 2.3 Ma. None of the Middle-Late Triassic mafic-ultramafic intrusions in the East Kunlun Orogenic Belt contain Cu-Ni mineralization. Based on simulations by the software MELTS, we found that the crystallization process leads to a drop in the sulfur content at sulfide saturation. The mineralized Late Silurian-Early Devonian mafic-ultramafic intrusions exhibit both a broader range of m/f values and higher m/f values than the non-mineralized intrusions in the East Kunlun Orogenic Belt, which means that the mineralized intrusions experienced a long process of crystallization differentiation. This process is probably responsible for Cu-Ni mineralization in the Early Devonian Xiarihamu mafic-ultramafic intrusion. Compared to the olivine and clinopyroxene in the Xiarihamu giant Cu-Ni deposit, the Late Triassic Kaimuqi olivine contains significantly lower MgO, Fo and SiO2 contents and higher CaO and FeO contents, and the Kaimuqi clinopyroxene contains higher FeO and CaO contents. Therefore, we infer that the Kaimuqi intrusion formed from a melt with higher FeO and CaO contents and a lower SiO2 content. This melt required more sulfur to achieve sulfide saturation. This characteristic most likely hindered mineralization in the Kaimuqi mafic-ultramafic intrusion. All of the mafic-ultramafic intrusions that host Cu-Ni deposits in the East Kunlun Orogenic Belt contain lherzolite, harzburgite, and orthopyroxenite, indicating that the pyroxene in these intrusions is mainly the orthopyroxene. If an intrusion contains more clinopyroxene, it indicates that its magma contains more calcium. The magma with higher calcium content will need a higher sulfur content to achieve sulfide saturation. Although websterite occurred in the Kaimuqi intrusion, the clinopyroxene and orthopyroxene content in the websterite is 75% and 20%, respectively, and the peridotite lithofacies is wehrlite. Therefore, orthopyroxene is rare in the Kaimuqi mafic-ultramafic intrusions. Thus, the Kaimuqi mafic-ultramafic intrusion may not have had the potential to form Cu-Ni ore deposits. Finally, this paper summarizes some geological and geochemical indicators for Cu-Ni mineralization in the mafic-ultramafic intrusions in the East Kunlun Orogenic Belt. These indicators provide some enlightenment to the exploration of Cu-Ni deposits in mafic-ultramafic intrusions, especially for the geological exploration bureaus or companies, which do not have the budget for large numbers of geological dating, isotopes, major elements, and platinum group elements during the exploration evaluation process in the current global mining recession situation.

The Right to Democracy in a Populist Era

Thomas Franck's “emerging” right to democracy seems to be entering turbulent times, as the current global democratic recession has undermined the optimism of the 1990s. The greatest paradox of the current populist wave is that democracy is being subverted by leaders promising more, not less, democracy—but it is a democracy of a different kind. Populists embrace the “form” of democracy and claim to speak for the people themselves. At the same time, however, by undermining its liberal constitutional foundations, they erode the substance of democracy, and gradually transform it into various forms of illiberal and authoritarian regimes.

물류창고 불출자 로드밸런스율 증대 휴리스틱 알고리즘 개발

Companies are pursuing the management of small quantity batch production or JIT(Just-in-time) system for improving the delivery response and LOB(Line Balancing) in order to satisfy consumers' increasing demands in the current global economic recession. And in order to improve the growth of production for reducing manufacturing cost, improvements of the Load Balancing have become an important reformation factor. Thus this paper is aimed at warehouse which procures materials on the assembly line in procurement logistics of automotive logistics and proceed with research on heuristic algorithm development which can increase the Load Balancing of workers. As a result of this study, when applied the primary target value, it was verified that the whole workers decreased from 28 to 24. Furthermore, when specified the secondary target value and applied algorithm once more, it was verified that the Load Balance Ratio was improved from 44.96% to 91.7%.

Are We Already in a Global Recession?

The paper discusses the question if the global economy already entered a phase of a global recession. This is based on the IMF definition that a global recession occurs if global real GDP growth falls below 3%. Taking actual GDP numbers for the Chinese economy published by the Conference Board for the last and the current year and correcting the contribution of China to the global growth accordingly, one finds that instead of the official global GDP growth 0f 3.1% published by the IMF it would be significantly lower at 2.6%. In the following sections the author looks for further empirical evidence to support the more pessimistic view resulting from the different statistical data for China. The stock market crashes in China last year is a key indicator that something extraordinarily happen on the financial markets. Furthermore there are other indicators which give evidence that this spilled over into the Chinese economy and could not be contained to the financial sector. Since China is already in a complicated transition process to escape the middle income trap by upgrading their economy towards a more high-tech oriented internationally economy this had unexpected negative repercussion on the Chinese growth. Furthermore there is evidence that the World Economy Outlook published by the IMF has systematically been biased upwards concerning the global GDP growth in the past. The author therefore concludes that it is a risky strategy to not take major steps to stabilize the global economy by a joint-effort of the G20 countries now. Complacency could have dear consequences if the current global recession gets worse in the coming year. It is not only China which has a fragile economic environment but the Japan, the US and the EU as well as other BRICS-countries are in a bad shape to support the global growth in the near future.

The British big society effect: the challenges of the third sector

The voluntary sector, or the 'third sector', as it is frequently known in social policy circles has been at the centre of social action in the UK for many years. When the New Labour Government came into power back in 1997 the third sector had become more visible and the government of the day had great expectations of the positive impact that the third sector promised. Since this time there has been a belief in central government that the third sector plays a vital role in enhancing civil society and of strengthening the functionality of local communities. In May 2010, the coalition government implemented the concept of the big society. Overall the big society is recognised as a pivotal player in the relationship between citizens and the state. The third sector is perceived as a principle mechanism for implementing the big society vision. This paper aims to critically explore the big society's impact on the third sector, within the context of the current global economic recession.