THREATS TO THE DEVELOPMENT OF INDUSTRIAL POTENTIAL IN THE CONDITIONS OF INTERNATIONAL ECONOMIC ACTIVITY

Keywords: development, industrial potential, globalization, international economic activity, threats

Abstract

The article is devoted to the identification of threats to the development of industrial potential in the conditions of international economic activity. Among such threats are technological changes, changes in international trade, environmental restrictions, political and economic instability, intellectual property, labor force, cyber security. Technological changes, on the one hand, contribute to increased productivity and efficiency, but on the other hand, they pose challenges to the industry in adapting to new working conditions and training personnel. Changes in international trade can both facilitate access to new markets and create barriers through trade barriers and protectionist policies. It has been proven that environmental restrictions are an important incentive for "green" innovations, but require significant investments in environmentally friendly technologies and adaptation to new regulatory requirements. Political and economic instability creates uncertainty that affects investment decisions and can inhibit industry development due to business risks. It is substantiated that intellectual property issues are of crucial importance for ensuring the competitiveness of industry, but the protection of intellectual property rights on an international scale remains a difficult task. Workforce challenges, including brain drain, changing skill requirements and demographic changes, require companies and governments to take proactive steps to attract and retain talent and adapt education programs. In the context of cyber security, the increasing reliance on digital technologies makes the industrial sector vulnerable to cyberattacks, which can have serious consequences for production and national security. Accordingly, ensuring cyber security becomes a priority for maintaining the stability of industrial development. In general, to effectively solve the mentioned challenges and minimize potential threats, coordinated activities at the international level, investments in innovation and technology, and the development of flexible strategies that can adapt to the rapidly changing conditions of the global economy are necessary.

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Published
2024-02-27
How to Cite
Monastyrskyi , Y. (2024). THREATS TO THE DEVELOPMENT OF INDUSTRIAL POTENTIAL IN THE CONDITIONS OF INTERNATIONAL ECONOMIC ACTIVITY. Economy and Society, (60). https://doi.org/10.32782/2524-0072/2024-60-111
Section
INTERNATIONAL ECONOMIC RELATIONS