My Items

Housing has long been a sign of American prosperity. The act of purchasing a house is thought to be the American path to not only financial freedom but also a means of personal protection: a place of solitude that shields you from the shocks and unpredictability. Not surprisingly, the baby boomer generation continues to hold most of the housing today. According to Santa Monica Daily Press, boomers own 38% of homes nationwide despite comprising just over 20% of the U.S. population (Leffler, 2024). Not only that, but their share of housing wealth capture has remained constant, due to the large appreciation they have seen in their home values through the years. Daniel Short, the VP of commercial real estate at BMO Bank, points to macroeconomic factors being a large part in determining long term house prices. “Without a doubt, I think rate cuts are going to drive up home prices,”  Short said. Due to most millennials and first time buyers using debt to finance their homes, higher interest rates also drive up the expense of owning a home. This puts millennials in a lose-lose situation in the long term. Perfectly explaining why nearly 78% of Gen Z and 54% of millennials used help for down payment, especially from parents ( Mreport , 2023).  Jordan Davis shares his experience with the housing market as a millennial. “I think I read in an article somewhere that 31% of millennials are still living with their parents,” Davis said. “If house prices keep increasing, I think that number will only increase. How are people going to be independent and resourceful if they are forced to live with their parents?” Davis questioned. For now, it seems millennials will have to fight for their spot in the home ownership market. By: Sid Singh, Adlai E Stevenson High School, Sophomore Work cited: https://themortgagepoint.com/welcome/#:~:text=This%20is%20most%20common%20among,a%20common%20misconception%20among%20Americans . https://smdp.com/news/baby-boomers-dominate-home-ownership-leaving-little-for-gen-z/ Jordan Davis, millennial Daniel Short, VP Commercial real estate BMO Harris

Nowadays, gun violence is one of the biggest issues in America. It is an ongoing problem that continues to take away money that should be used for better things in our country. Gun violence has a negative economic effect on our country. When people think about gun violence, they tend to focus solely on the victims but to maximize the understanding of the issue, it’s important to realize the effect it has on the United States as well.  The monetary costs of gun violence can range from $280 to $557 billion US dollars per year   (Pereira, 2021) . It can cost people financially, psychologically, emotionally, physically, etc. With all of the trauma experienced by the victims, it's clear that the cost is long term and overwhelming. A study found that over 600 million dollars were spent on healthcare in 2010 alone, with the amount continuing to increase over the next few years. In fact, in-patient stays are the main driver of healthcare costs. “ Firearm injuries cost more than twice as much as other hospital care in the United States ” (Gobbo, 2023) . In fact, from 2016 to 2017, there were more than $30,000 spent on firearm patients compared to 12,000 dollars spent on patients of other injuries. Employers and businesses lose 535 million per year simply due to lost revenue, time spent adjusting schedules because of time off work for injuries, and time spent filling job vacancies. Additionally ,  people lose money due to having to take time off of work because of firearm injuries, which is estimated at 53.77 billion every year (Gobbo, 2023) .  There are plenty more things that take a financial blow from gun violence.This has become a serious issue. Former Manager of Government and External Relations, Andre Gobbo, says “Know that gun violence is more than just mass shootings that make headlines, and that it rears its head in lesser known but oftentimes more pernicious ways.” Additionally, recent gun violence victim, Donte Humphries, stated, “it can cost a lot for families…a lot of minorities can't afford life insurance…There are not many families who can afford to bury their loved ones.” With a newfound awareness and a radar for gun violence, it is completely possible to work towards finding a viable solution to this pressing issue.  List Sources: 2- Statistic Links to both article sources https://equitablegrowth.org/people/andre-gobbo/ https://abcnews.go.com/US/bear-burden-gun-violence-costs-america-280-billion/story?id=80245349 Name of 2 people you interviewed, title/position, email if possible Andre Gobbo, Former Manager of Government and External Relations Donte Humphries, recent victim of Gun Violence

Online shopping has become a prevailing way of shopping due to improvements in technology. With a click of a button, purchasing items has never been easier. Companies like Amazon, Shein, and many others have profited from technology and have become multi-million dollar companies in just a few years. Although it has had an immense impact, online shopping hasn’t completely run physical store owners out of business..  Over the years, companies with physical stores have adapted and implemented an online presence, which has led to more profit. This cannot be said for every physical store.   “ Establishment of a fulfillment center is associated with reduced employment growth in retail of 2.9 percent within the same county, a loss of about 938 jobs per county per quarter ”  (Page, 2022).  For physical store owners, this can become an increasing concern. Daky Lema, a business owner of Native Spirit, states,  “I’ve seen that many stores have closed down because of this. (Consumers) can buy anything they want at home. Small business owners like myself cannot afford to hire someone to create a website nor can I work from home delivering to everyone. I have to wait until they come to me, forcing my sales to go down.” As easy as it is for people to shop online, local business owners suffer from the ease of purchasing any products, at any time, whenever someone wants.  On the other hand, people who have decided to create online stores have benefitted from this switch substantially.  “ By 2027, 23% of retail purchases are expected to take place online ” (Snyder, 2024) . This increase in retail purchases encourages sellers to gradually move towards websites and leave the physical stores behind. Yamile Muñoz, an online business owner, states, “People who have online stores can reach many more people. (Consumers) can keep buying from stores from their home. I can work 24/7 without having the hassle of working after hours or depending on one person’s purchase. Especially since everything is becoming more online, I can (reach) a larger group of people.” This online shopping phenomenon has its pros and cons; however, with an equal balance, it can be beneficial for both online and physical stores. Daky Lema, Business Owner Yamile Mu ñoz, Online Business Owner Sources: 1. https://www.nber.org/digest/202208/effect-e-commerce-expansion-local-retail 2. https://www.forbes.com/advisor/business/ecommerce-statistics/

Sports betting is an activity that has been conducted since the ancient Olympic games. In modern times, it’s been an activity reserved for adults, but new technologies have caused youth to slip through protections provided by the government. On May 14th, 2018, the Supreme Court struck down the Professional and Amatuer Sports Protection Act, leaving the legality of sports betting up to states. Sports betting is currently legal in all but eleven states, and its evolution from casinos to apps has caused it to become a ten-billion-dollar industry ( Goldman Sachs, 2024 ) . In all cases, gambling can become harmful, but youth and teens are especially vulnerable. New online sports betting platforms have weak age verification systems that increase accessibility to youth who are left predisposed to risk for the rest of their lives. Gambling is a highly addictive activity that when paired with sports is highly appealing to teens because of the perceived ability to make money quickly and with minimal effort. Many start out participating in sports betting as a fun social activity after being introduced by friends. One sports bettor Rayteng has stated that a casual start led to, “spending more than an hour each day on the app”.  Teens can easily lie about their ages or identities when signing up for gambling platforms leading to   “80% of high schoolers say[ing] that they’ve gambled for money in the past year”   ( Weintraub, 2018 ). Youth within that 80% are at risk for developing addiction, even if they’re not especially concerned. According to psychologist Monica Gutkowska, “[Teens are] less likely to see it becoming a problem, sports betting starts out as innocent but it stimulates the same brain systems as substances.” The many effects of gambling addiction include neglecting responsibilities, harming communication, and increasing isolation, all of which contribute to increased anxiety paired with lowered self esteem. Perhaps the most troubling effect is the increased financial risk teens are exposed to. Spending more than one percent of income on gambling is known to be harmful, most teens end up spending more. They pick up bad habits by risking money for potential, but unrealistic, quick gains. Parents should talk to their children about the dangers of sports betting, while teens themselves should look out for flashy promotional deals and know that they are safer without sports betting.  Sources: https://www.theguardian.com/us-news/2023/dec/01/sports-betting-regulation-gambling-addiction https://www.theguardian.com/us-news/2023/dec/01/sports-betting-regulation-gambling-addiction https://www.washingtonpost.com/sports/2022/08/29/history-of-sports-gambling/   https://abcnews.go.com/US/online-gambling-youth-worries-experts-teen-sports-betting/story?id=94577595   Monika Gutkowska - Psychologist  Raytneg Skotmyr - Whitney Young Student

When compared to all other high-income, developed countries, the United States has the worst health outcomes, including the lowest life expectancy at birth, the highest death rates for treatable conditions, and the highest infant mortality rates . Despite this, the United States spends nearly 18% of its GDP on health care, far more than all other high-income nations. ( The Commonwealth Fund, 2023 )  With the United States lagging far behind its peers, and most of developed Europe having some sort of universal healthcare system, the age-old political debate for government-funded healthcare in the country continues.  Although some government alternatives exist, like Medicare for people age 65 and older, healthcare largely remains a business in the United States. “ Our health insurance for a family of four costs approximately $2000 per month. We pay $500 while our employer pays $1500,” says Jim Parker, a private health insurance consumer. He explains that, “ The cost of health insurance likely surpasses the cost of housing for many families.” The average cost of health insurance for an individual in the United States is about $477 a month, a steep price to pay considering that in other countries such as England, the National Health Service exists, which provides free healthcare services to all residents.  Expensive healthcare also may limit access to medical treatment. Mary Branick, Director, Coding Audit and Physician Billing, at Ann & Robert H. Lurie Children's Hospital of Chicago, explains that “ Financial aid is available for severe cases of need but families need to qualify. For commercial insurance, high deductibles make it difficult for families and those are the ones most likely to complain about their bills .” In fact, the Federal Reserve found that “ Twenty-eight percent of adults went without some form of medical care in 2022 because they could not afford it ” ( Board of Governors of The Federal Reserve System, 2023 ). Those with lower incomes reported being in good health less often than those with higher incomes, which is a clear problem as no one should have to have their health suffer simply because they cannot afford the medical care they need.   It’s clear that we have a problem with healthcare costs in the United States, and it’s a concern frequented in many elections with some candidates proposing “Medicare For All”. No matter what, it is crucial that we remain committed to striving to create a world where health is a universal right, not a privilege. Sources: https://www.commonwealthfund.org/publications/issue-briefs/2023/jan/us-health-care-global-perspective-2022 https://www.federalreserve.gov/publications/files/2022-report-economic-well-being-us-households-202305.pdf Interviewees:  Jim Parker Mary Branick

In the era of globalization, the world’s economies are increasingly interconnected and a political or economic disruption in one part of the world has a cascading effect in countries that may not even trade directly. While the effects of disruption in global sourcing on large companies is well known, small businesses have been facing existential challenges that, in many cases, have caused them to go out of business. The world has been grappling with a severe trade crisis that started with the COVID-19 shutdowns and has been exacerbated due to geopolitical tensions and protectionist policies. Global trade volumes plummeted by a staggering 8.2% in 2020, marking the largest decline since the financial crisis of 2008   (OECD, 2022) . Recovery has been slow, significantly impacting small businesses which lack the resources of their larger counterparts. According to a SCORE survey, only 12.2% of small business owners reported profitable operations, marking a nearly 20% decline  from the previous year   (Score, 2024). The theory of comparative advantage in international trade considers opportunity cost in production decisions. However, trade barriers like tariffs and quotas disrupt this flow, distorting comparative advantage. Carolina Rikart, a jeweler employed at Serenity with a Bachelor's degree in Economics, notes that   “small businesses, which [often] rely on imports, face higher costs because of tariffs, which reduces their competitiveness [in the market] and stifles growth.” Similarly, Sawyer Caldwell, the owner of a family-run boutique in downtown Chicago, stated, "Our business relies on imported goods, especially from Asia and Europe. With the increasing tariffs, our costs have increased but our customers don’t really want to spend that much." Łukasz Kubiak, a Polish immigrant who makes pottery in North Carolina, explained that   "I cannot source quality porcelain clay from Ukraine because of supply chain disruption caused by the war. [It] is not a matter of cost but my craft’s core is being ruined.” Without access to these materials, she states that she  “cannot make the intricate designs my customers love so much which puts my work at risk." As policymakers and global leaders navigate trade disruptions, it is crucial to prioritize initiatives that streamline trade procedures, provide financial assistance and promote international cooperation to ensure that these businesses remain vital contributors to the global economy. List of sources: (include links and list of interviewees) https://www.oecd.org/coronavirus/policy-responses/international-trade-during-the-covid-19-pandemic-big-shifts-and-uncertainty-d1131663/   https://www.score.org/resource/blog-post/covid-19-impact-and-future-small-business   https://www.investopedia.com/terms/c/comparativeadvantage.asp#:~:text=Key%20Takeaways-,Comparative%20advantage%20is%20an%20economy's%20ability%20to%20produce%20a%20particular,between%20different%20options%20for%20production List of interviewees: Carolina Rikart Sawyer Caldwell Łukasz Kubiak

For the past decade, home listings have become less affordable, with only 15.5% of home listings deemed affordable for a typical US Household in 2023 ( Redfin , 2023) . This has been building up for years and may only get worse—because of climate change. Repairing climate-related damages is getting more expensive and making it a financial risk for insurance companies to cover homes with high climate risk. In California, State Farm and other major property insurers faced billions of dollars in losses in 2021 ( California Department of Insurance , 2022 ), leading some to increase premiums or even back out of states entirely, leaving residents scrambling to find new insurance. Real estate broker Nancy Yockel, who owns property in California, states, “ All homeowners are dealing with the effects of climate change. In the pocketbook, immediately, with insurance… Some insurance carriers are leaving the state of California. They are just making a financial decision that it is no longer a profit center to insure homes in California. ”  The housing market comes from a long history of discrimination. Adding climate change’s severely disproportionate impacts, the struggle for homes is only exasperated. Compared to black households, white households had three times the number of affordable housing options ( Redfin , 2023 ), making it harder for black households, especially those living in climate-risky areas, to move out to safer homes.  Properties in greater danger of sea level rise also have seen higher mortgage interest rates, making home purchases more expensive. It’s becoming increasingly important to consider where to build new properties, how climate change may impact them, and whether it’s financially productive.  Dr. Raymond Lodato, a University of Chicago professor specializing in environmental policy and urban sustainability, stresses the transformation of housing because of climate change, “ I think there is going to be a shift in the market… People are going to have to seek higher elevation… this is going to cause a lot of migration and a lot of shifting around. All of that will have impacts on the housing market… and what housing is available will be snatched up pretty quickly. That could cause prices to rise and therefore cause another affordability crisis. ” It’s safe to say that housing will be one to watch in the world of climate change.  List Sources: Stats Redfin: https://www.redfin.com/news/share-of-homes-affordable-new-2023/ California Department of Insurance: https://www.insurance.ca.gov/01-consumers/120-company/04-mrktshare/2021/upload/Top25grps2021wa_Revised.pdf   Interview quotes Nancy Yockel; Real Estate Broker in Chicago with Berkshire Hathaway HomeServices and a licensed real estate agent in Palm Springs, California; Dr. Raymond Lodato; Associate Intrustrucal Professor at University of Chicago,

Environmental, social, and governance (ESG) is a set of standards that regulate a corporation and ensure that responsible, equitable decisions are taken. These goals are individually determined by corporations, and although not lawfully enforced, can be key to attracting (or deterring) potential investors. These standards are extremely multifaceted—companies may commit themselves to limiting their carbon footprint, creating a diverse workplace, or even conserving their water usage. “We are doing these things [integrating ESG] because it is the right thing to do,” Daniel Finn, Chief Financial Officer of Accenture North America said. “ We believe that when we do the right thing, as a rule, we’re led to becoming a better company and to perform better.” Incorporating ESG considerations into a company’s financial analysis is a continuous process—there is no one-time change that can be made to achieve sustainability. However, from the perspective of a corporation, some significant benefits can accompany the implementation of ESG goals. Studies show that strong ESG performance is positively correlated with higher equity returns and a reduction in downside risk ( McKinsey ). Shareholders are not only provided with the security and confidence to engage in more value-based investments—their portfolio is also diversified from an ethical and moral standpoint. “Companies are definitely making strides to integrate ESG . A lot of the companies are doing that because their clients are expecting them to do that,” Lauren Michalak, Managing Director, Business Strategy & Specialist Relations at Nuveen said. Along with having the ability to mitigate risks, ESG can have immense effects on a corporation’s financial returns.   An analysis of over 1,000 studies published since 2015 shows that strong corporate management of ESG standards is linked to improved Return on Equity (ROE), Return on Assets (ROA), stock price, operational efficiency, and risk management ( NYU Stern ).  While the future of finance, investing, and economics is uncertain and ever-changing, one thing is for sure—ESG is here to stay. ESG assets will hit $50 trillion by 2025, representing more than a third of the projected $140.5 trillion in total global assets under management ( Bloomberg ). Assuming ESG standardization and transparency are mandated in the near future, corporations will begin to focus on making a real impact and achieving more than monetary returns—saving our planet.  Stats:  https://www.mckinsey.com/~/media/McKinsey/Business%20Functions/Strategy%20and%20Corporate%20Finance/Our%20Insights/Five%20ways%20that%20ESG%20creates%20value/Five-ways-that-ESG-creates-value.ashx   (Witold Henisz, Tim Koller, and Robin Nuttall, 2019) https://www.stern.nyu.edu/sites/default/files/assets/documents/NYU-RAM_ESG-Paper_2021%20Rev_0.pdf     (Tensie Whelan, Ulrich Atz, Tracy Van Holt and Casey Clark, 2021) https://sponsored.bloomberg.com/article/mubadala/the-future-of-esg-Investing Interviews: Lauren Michalak, Managing Director, Business Strategy & Specialist Relations at Nuveen Daniel Finn, Chief Financial Officer – Accenture North America

Would you know what a Roth IRA is? Samantha Loies, a junior at Walter Payton College Prep, admitted that she doesn’t understand Roth IRAs and that she hadn’t thought about planning for retirement. When you are young, it is easy to view retirement as far off in the future. Ironically, when investing for retirement, it is crucial to start as early as possible since investments compound over time. One opportunity for young people is to invest using a Roth IRA (Individual Retirement Account), which can easily be opened by a variety of brokers, banks, and other financial institutions..    A Roth IRA is different from a traditional 401k because contributions are made post-tax instead of pre-tax. “ People tend to be in a lower tax bracket when they are younger than when they are in retirement” , which is one reason why Roth IRAs are good for young people . Since the contributions come after tax if you withdraw the account’s gains at the minimum age 59½ you will incur no fees ( Investopedia, 2024 ) . This means that all gains on the account are not eligible to be taxed as income when withdrawn because the contributions were taxed beforehand. Another feature making Roth IRAs great for young people is the fact that “ you can always access the money you contributed without penalty, no matter your age. Any gains in the account, however, may be subject to taxes and penalties if withdrawn before age 59½ ”  ( O'Brien, 2023 ). All the money you put into the account was already taxed and can be withdrawn without penalties, meaning that unlike a 401k which is subject to taxes and fees if withdrawn before retirement, the initial investments made in a Roth IRA can be accessed whenever needed. In an interview with Liz Stack, a financial professional and CFA (Certified Financial Analyst) Society charterholder, she highlighted that on top of the tax benefits,   “ a  Roth IRA is a great way for young people to save for retirement since they might not have access yet to a retirement plan like a 401k offered through an employer and there are no age limits for opening a Roth IRA . ” This makes it perfect for young investors who want to begin investing and get a leg up to start building wealth.  Sources: Articles: https://www.investopedia.com/why-roth-iras-make-sense-for-millennials-4770748   https://www.cnbc.com/2023/03/17/why-a-roth-ira-is-great-for-young-people.html   Interviewees: Samantha Loies (Junior at Walter Payton) Elizabeth Stack (financial professional and CFA charterholder)

Climate change poses significant challenges to financial institutions worldwide. As the planet warms and extreme weather events become more frequent and severe, the financial sector faces many risks, ranging from physical damage to investments and reputational damage. Extreme weather events can damage physical assets. These disasters can disrupt economic activities, impairing the ability of borrowers to repay loans and triggering defaults, further straining the financial system. After a study, the results show that around 60% of banks still need a climate risk stress-testing framework (European Central Bank, 2023) . With the growing awareness of environmental issues, investors are increasingly scrutinizing companies' environmental practices. Financial institutions heavily invested in industries with high carbon footprints may face significant asset devaluation as policies and consumer preferences shift towards sustainability. Additionally, stranded assets pose a substantial risk to financial institutions. According to Greg Gelzinis and Graham Steele, The Economist’s Intelligence Unit estimates that the current value of direct private investor losses globally due to the physical risks of climate change is between $4.2 trillion and $13.8 trillion, depending on the warming scenario (Gelzinis, Steele 2019) . Governments worldwide are implementing policies to mitigate climate change, such as carbon pricing mechanisms and stricter environmental regulations. These changes can directly impact financial institutions through increased compliance costs and changes in lending practices. To assess the resilience of a company to climate change risks, Sarah Steigwald, a financial advisor, says, "When assessing companies' resilience to climate change, it is most important to analyze geographic exposure, infrastructure robustness, past experiences, risk management practices, and adaptation strategies the company may use." Moreover, climate change can have profound implications for insurance companies. To mitigate these risks, insurers may need to reassess their pricing models, underwriting standards, and risk management strategies. Climate change and financial institutions may also affect regular consumers. Ryan Fardy, a Walter Payton student, describes how financial institutions might combat the effects of climate change. "I think financial institutions can contribute to addressing climate change through more advocacy for regulatory measures promoting environmental responsibility and sustainability overall." Addressing these risks requires proactive measures, including incorporating climate considerations into risk management practices and supporting the transition to a low-carbon economy. Failure to address these risks could expose financial institutions to significant economic losses and undermine long-term sustainability. List Sources: https://www.bankingsupervision.europa.eu/about/climate/html/index.en.html   https://www.americanprogress.org/article/climate-change-threatens-stability-financial-system/   Sarah Steigwald, Financial Advisor Ryan Fardy, Walter Payton Student

Whether we like it or not, artificial intelligence is here. It’s always difficult to predict the future, but the spread of AI in the past few years has provided some insight into what it might look like for workers and businesses. Automation is a broader category in which generative AI and other intelligent systems fall. Automation has been prevalent for quite some time. Remember learning about the Industrial Revolution? Many believe society has turned a new leaf in a similar manner with GenAI. Research from McKinsey Global Institute actually shows that “ with GenAI in the picture, 30% of hours worked today could be automated by 2030 ” ( Ellingrud et al., 2023 ). Of course, this differs by field, but it’s also very likely that lower-wage jobs will be most affected.  What about the benefits? Some believe that the rise of AI will create more jobs than it destroys, especially in the tech sector. In fact, “ in a recent survey, 84% of business leaders believed that generative AI would have a positive impact on their workforces, and 97% said the technology would free their employees to take on a more thoughtful and creative role in the workplace ” ( PYMNTS, 2023 ). AI implementation might help a business reduce manual errors, make informed decisions, and speed up operation time significantly. The truth is, we have to wait for a complete answer. “I believe time will tell to see the implications of Artificial Intelligence and I am hopeful economics theories will evolve to reflect the impact ,” says local AP Econ teacher Lindsay Mueller. In addition, the societal implications of this technology will span far beyond what one may consider traditional worker/business dynamics. Novice artist Kaylen Ng states that “ the spread of AI has led to a reduction in jobs for freelance artists, and is heavily indicative of the lack of value that AI users place on artistic thought and creation.” Whether one is concerned with the benefits or downfalls of AI, it’s undeniably important to understand what’s on the horizon and prepare accordingly with community effort and genuine care for our workers, the backbone of our economy.    List Sources: With GenAI in the picture, 30% of hours worked today could be automated by 2030. ( link )  In a recent survey, 84% of business leaders believed that generative AI would have a positive impact on their workforces, and 97% said the technology would free their employees to take on a more thoughtful and creative role in the workplace. ( link ) Lindsay Mueller, AP Economics teacher Kaylen Ng, artist

The Digital Cold War, characterized by cyber espionage, data breaches, and technological warfare, has become a defining feature of the global power struggle. Nations invest heavily in developing and deploying advanced cyber capabilities, leading to constant vigilance as they seek to protect their digital assets and gain the upper hand in the virtual arena. Spending on technological advancements, especially AI, has drastically increased. According to the Harvard Business Review, “ as of 2023, global AI spending has surpassed $350 billion, with an annual growth rate exceeding 15%, according to data from leading research institutions”  ( Hemant Taneja and Fareed Zakaria , 2023) .  This threatens national security and has profound implications for the global economy. Jeffrey Ding, an Assistant Professor of Political Science, states, “One of the key power dynamics is that states are maneuvering to ensure that their national economies and militaries can compete in a strategic industry like AI, which can provide cumulative and infrastructural advantages.” These power dynamics between states are likely to affect international relations. Digital conflict through intellectual property theft, disruption of infrastructure, and manipulation of financial systems have also negatively impacted economies. As reliance on digital technologies grows, so does economies’ vulnerability to the far-reaching consequences of the Digital Cold War. Developing and controlling emerging technologies, such as artificial intelligence, 5G networks, and quantum computing, have become strategic assets in this digital arms race, intensifying economic competition among nations. Currently, “China’s median download speed was just over 299 megabits per second in the third quarter of 2021 versus 93.73 megabits per second in the U.S., according to Speedtest, a company that measures internet speeds” ( Kharpal , 2021) .   As nations grapple for control in the virtual realm, the consequences ripple through diplomatic channels and economic networks, reshaping the dynamics of the 21st-century global landscape. According to David Sloss, a Professor of Law at Santa Clara University, “ We need more cooperation between the tech companies and the government to design digital technology in a way that we can export it to the global South so that it helps reinforce democracy and helps push back against the spread of digital authoritarianism. ” Navigating this digital battleground requires a delicate balance between innovation, security, and cooperation to ensure a stable and prosperous future for all nations involved. Sources: https://hbr.org/2023/09/ai-and-the-new-digital-cold-war https://www.cnbc.com/2022/02/17/us-well-behind-china-in-5g-race-ex-google-ceo-eric-schmidt-says.html Jeffrey Ding, Assistant Professor of Political Science at Columbian College of Arts and Sciences at George Washington University David L. Sloss, Professor of Law at Santa Clara University