Causes of economic crisis in the world at present

The present downfall of the world economy can be attributed to several factors, including:

1. COVID-19 pandemic: The outbreak of COVID-19 has resulted in a significant decline in economic activity worldwide. The pandemic has disrupted supply chains, reduced consumer demand, and forced businesses to shut down, leading to widespread job losses and economic uncertainty.

2. Trade tensions: The ongoing trade tensions between major economies such as the US and China have also contributed to the economic downturn. The imposition of tariffs and trade barriers has reduced global trade, leading to a decline in economic activity.

3. Political instability: Political instability in several countries has also contributed to the economic downturn. Uncertainty about government policies and regulations has made it difficult for businesses to plan and invest, leading to a decline in economic activity.

4. High debt levels: Many countries, including developed economies, have high levels of debt, which has limited their ability to respond to economic downturns. High debt levels also lead to higher interest rates, which can reduce consumer spending and business investment.

5. Environmental factors: Climate change and natural disasters have also had an impact on the global economy. Natural disasters such as hurricanes and floods can disrupt supply chains and damage infrastructure, while climate change can lead to increased food and water shortages, affecting economic activity.

In conclusion, the present downfall of the world economy is a result of several factors, including the COVID-19 pandemic, trade tensions, political instability, high debt levels, and environmental factors. Addressing these issues will require a coordinated global effort and innovative solutions from governments, businesses, and individuals.