Global challenges of our time and their impact on the economies of countries and peoples of the world

The article is devoted to the study of global challenges and crisis phenomena of modern civilization. In particular, a systematization of destructive phenomena, challenges and threats to society and the economy was carried out according to their main characteristics. It has been proven that the intersection of crisis phenomena of various natures and their complexity further increase the fairly high level of uncertainty in modern society and its various spheres, aggravate the interdependence and severity of their manifestation, thus causing a polycrisis. A deeper analysis of the COVID-19 pandemic and climate change led to the conclusion that these challenges demonstrate the vulnerability of absolutely all countries and peoples of the world, are sources of economic and social risks, and accordingly require special attention and a systemic response. It has been determined that, along with negative and destructive consequences for the economy and society as a whole, the COVID-19 pandemic and climate change also have positive effects for some areas of human life. A huge role in solving problems arising from planetary threats and mitigating the severity of crisis phenomena in all spheres of society, including the economy, undoubtedly belongs to the state.