Effnu Subiyanto
This study aims to provide evidence that economic decoupling has occurred worldwide as an indication that the current economic systems need a new reconstruction in adopting recent developments. As many as 68.58%, or 155 countries out of 226 countries, failed to maintain their economic growth to come near the average world achievement in 2021 despite little improvement in 2022. We employ spreadsheet analyses enriched by descriptive methods to disclose these phenomena. We analysed 226 countries within the period 2001 to 2022 from secondary data published online by the World Bank in July 2023. We found that ten countries could sustain their economic growth by relying on internal renewable natural sources, surpassing developed countries. Surprisingly, three countries came from the poor third countries. The findings showed that the decoupling of economic first emerged in 2009 and continued until today. This is a new challenge for economists and researchers to get attention. Copyright © 2023 Inderscience Enterprises Ltd. positive signal to cease until the third quarter of 2023, although a high-level G20 conference was held on 15–16 November 2022 in Bali, Indonesia. The world, however, still requires time to see the effect of ‘leaders’ declarations’ as a result of the Bali conference. The question is whether the Russia-Ukraine would abide the declarations or again ignore them as general audiences previously predicted. Not only Russia and Ukraine would other indirect countries support the Bali G-20 to expedite peace as written in the declarations.
Widya Mandala Surabaya Catholic University (UKWM) Surabaya, Graha Widya Mandala, 6th Floor, Jl. Dinoyo 48A, Surabaya, 60265, Indonesia