The New Global Economy between a Well-Planned Journey and a Chaotic One. Under the Impact of both Climate Change and the Post Pandemic, the NGE: A More Complex and Less Predictable System

Abstract

The article is devoted to the understanding of the emergence of new traits of the global economy under the impact of climate change and the COVID pandemic. Economic research is nowadays primarily oriented towards the unpredictable and sometimes confusing situations related to the consequences of climate change. Global economy is a complex behavior with a new dynamic. If green energy is to be the main predictable feature we are confronted with three questions: is it robust, sustainable and resilient? The new global economy is not about a bright future; it is about selecting a positive norm that indicates today a positive behavior of it. Hydrogen fossil issue, electricity becoming a tradable commodity, the new role of nuclear energy as a crucial complement to renewables are among the main contributors in redesigning energy markets. We can safely say that by mid-century the world will need to remake its energy system. Indeed, while the science of climate change is today firmly established on powerful truths, the final outcome is not a simple extension of present-day trends. The environment, under the impact of climate change, is presently in a disordered phase of transition. Global disorder should not be inevitable even if critical thresholds seem to be inevitable. The obvious solution is cooperation out of what we believe to be true. We have to act in the presence of uncertainty and often that means that a better situation could be simply an unattainable one.