Young Student lectures on Global Economics from Real World Economic Development Academy (www.realworldeda.com) at 15 yrs old! She is specifically discussing "BALANCE of PAYMENTS", which consists of Current Accounts, Capital Accounts, Transfer Payments, Trade Imbalance, Factor Price Equalization and Mercantilism.
The world economy or global economy is the economy of all humans of the world, considered as the International exchange of goods and services that is expressed in monetary units of account.
Global Economic Development: The development of the global economy has had a notable impact on the use of energy and other resources. Worldwide demand for these resources has led to both political nd environmental problems requires the transport of finished goods. These activities, essential for development< require the use of much energy.
NOTE: There are 4 types of Economic Development policies that countries are currently implementing: (1) Localization barriers to trade (2) Indigenous innovation )3) General Mercantilism (4) Enterprise Support