The varying levels of trust in government transparency and accountability across different countries, as indicated by the Investigative Journalism Reportika survey, can have significant implications for the global economy. With only 11% of citizens in the USA and mere 4% in China believing that their respective governments are transparent and accountable, there may be growing concerns about the stability and reliability of governance structures in these economic powerhouses.
Considering the broader economic context, where the US dollar has already lost over 99% of its value over the past 50 years and the Japanese yen has depreciated by more than 100%, dwindling trust in government institutions could further erode confidence in fiat currencies and traditional financial systems. Investors and businesses may seek alternative assets and investment opportunities to hedge against perceived risks associated with opaque governance and currency devaluation.
Moreover, declining trust in government could lead to reduced public participation, hinder policymaking processes, and impede efforts to address economic challenges such as income inequality, corruption, and fiscal mismanagement. As such, fostering transparency and accountability in governance is not only essential for societal cohesion and democratic principles but also for maintaining the stability and prosperity of the global economy in an increasingly interconnected world.
