Sea Ice
- About
- Imprint
- Scenarios
- Arctic Marine Transportation by 2030
- Introduction
- Aim of this Study
- Key Factor Classification
- Definitions of Key Factors and Future Projections
- 1. Climate
- 2. Legal framework
- 3. Global Trade Dynamics – Global economic growth
- 4. Safety of other Routes
- 5. Socio-economic impact of global climate change
- 6. Oil Price
- 7. Major Arctic Shipping Disasters
- 8. Windows of Operation
- 9. Maritime Insurance Industry
- 10. Collaboration in resource extraction by China, Japan and Russia
- 11. Transit fees
- 12. Conflict between indigenous and commercial use
- 13. Arctic Enforcers
- 14. Energy sources for propulsion
- 15. New resource discovery
- 16. World Trade Patterns
- 17. Regulation in the Arctic
- Consistency matrix
- Scenarios
- Suggest Wild Cards
- Suggest Key Factors
- References
- Glossary
- Yakutat Community Energy Scenarios
- Introduction to Scenario-Management
- The Consistency and Robustness Analysis
- 1. Key Factors and their Future Projections
- 2. Assigning plausibility values to future projections
- 3. Projection Bundles
- 4. Assigning consistency values
- 5. Obtaining overall consistency values for the projection bundles
- 6. The combinatorial problem of the consistency analysis
- 7. The Robustness of a projection bundle
- Disruptive event analysis – Wild Cards
- ScenLab v1.7 Client download
- Arctic Marine Transportation by 2030
3. Global Trade Dynamics – Global economic growth
AMSA Evaluation: Importance: 9, Uncertainty: 14, Sum: 23
Classification: Economics, Politics
The global economic growth determines he overall drive of developing new
resources, as it is an indicator for pressure on existing resources and the level of
risk in investments.
3.1 Second Industrial Explosion
Plausibility: 0.1
This FP comprises an average global growth of GDP above 8 % in 2010 to 2020.
The pressure on existing resources and shipping routes due to very strong demand
is extremely high. Very high revenues for states and companies provide enormous
sources of venture capital. However, such a rapid growth leaves the global economy
highly volatile.
3.2 High Growth
Plausibility: 0.15
This FP comprises an average global growth of GDP between 5 and 8 % in 2010
to 2020. The pressure on existing resources and shipping routes due to strong
demand is high. High revenues for states and companies provide good sources of
venture capital for sound projects. The economy is somewhat volatile.
3.3 Moderate Growth
Plausibility: 0.4
This FP comprises an average global growth of GDP between 2 and 5 % in 2010
to 2020. The global economy growths slowly but stable. Pressure on existing
resources and shipping routes is rising but predictable. Investments are made in
very sound projects only.
3.4 Low Growth
Plausibility: 0.25
This FP comprises an average global growth of GDP between 1 and 2 % in 2010
to 2020. The global economy is permanently on the brink of a recession. Global
players act very carefully. The investment strategy is ’wait and see’ and ’don’t’
spend any money right now’. Governments invest where they can to give the
economy a boost.
3.5 Collapse of Global Economy
Plausibility: 0.1
This FP comprises an average global growth of GDP below 1 % in 2010 to 2020.
Whole industries collapse. The remaining companies have to regroup. There is no
interest in new investments.