It seems like the whole world is facing a financial crunch. Based on my personal observations, I think several factors contribute to this situation:
International Instability: Ongoing conflicts such as the Russia-Ukraine war and the prolonged tensions in the Israel-Palestine region.
Rising Interest Rates: The U.S. dollar entering a cycle of increased interest rates.
Post-Pandemic Aftermath: The lingering effects of the COVID-19 pandemic.
Global economic conditions have deteriorated significantly over the past few years and continue to do so. There are very few countries where this situation is stable. In some countries, the cost of living has increased significantly due to a significant increase in the natural inflation rate. And its effect is bringing destructive situation in public life. Inflation on the one hand and lack of employment on the other have reached intolerable levels in some countries. If the world leaders forget their differences and do not simultaneously play a role in controlling this situation, restless that has been created in the entire world will never stop. Pandemic and war is now a deadly threat to the whole world.