World Economic Forum’s Global Risks Report Lists Out What Threatens Global Economy

Cyber ​​security and space are emerging risks to the global economy, adding to the current challenges posed by climate change and the coronavirus pandemic, the World Economic Forum said in a report on Tuesday.

global risk report Usually released before the annual elite winter gathering of CEOs and world leaders at the Swiss ski resort of Davos, but the event has been postponed for the second year in a row because COVID-19, The World Economic Forum is still planning some virtual sessions next week.

Here’s a brief overview of the report, which is based on a survey of nearly 1,000 experts and leaders:

world view

The pandemic and its economic and social impact still pose a “serious threat” to the world, the report said. The wide gap between rich and poor countries’ access to vaccines means their economies are recovering at unequal rates, which can widen social divisions and exacerbate geopolitical tensions.

By 2024, the global economy is projected to be 2.3 percent smaller than without the pandemic. But it masks different rates of growth between developing countries, whose economies are projected to be 5.5 percent smaller before the pandemic, and richer countries, which are expected to expand by 0.9 percent.

digital threat

The report said the pandemic forced a major shift – requiring many people to work or attend class from home and online platforms and tools to aid the change that dramatically increased security risks. gives rise to an explosion number of .

“We are now at the point where cyber threats are growing faster than our ability to effectively prevent and manage them,” said Carolina Clint, a risk management leader at Marsh. SK Group.

Cyber ​​attacks are becoming more aggressive and widespread, the report said, as criminals use tougher tactics to pursue more vulnerable targets. There has been a surge in malware and ransomware attacks, while the rise of cryptocurrency Makes it easy for online criminals to hide the payments collected.

While survey respondents cited cybersecurity threats as a short- and medium-term risk, Clint said the report’s authors were concerned that the issue was not ranked highly, suggesting that it There is a “blind spot” for companies and governments.

space race

Space is the last frontier – for exposure.

The falling cost of launch technology has sparked a new space race between companies and governments. Last year, heroine founded by Jeff Bezos’ space tourism enterprise blue original And Virgin Galactic Richard Branson took off while Elon Musk’s The SpaceX business made huge profits in launching astronauts and satellites.

Meanwhile, many countries are increasing their space programs as they pursue geopolitical and military power or scientific and commercial advantage, the report said.

But all of these programs increase the risk of friction in the classroom.

“Increased exploitation of these orbitals is likely to lead to congestion, increased debris and collisions with some governance structures to reduce new threats,” the report said.

Space exploitation is one of the areas that respondents thought had the least international cooperation to address the challenges.

“The experts and leaders who responded to the survey do not believe that too much is being done in the best possible way forward,” Saadia Zahidi, managing director of the World Economic Forum, said in a virtual press briefing from Geneva.

Other areas include artificial intelligence, cyberattacks and migration and refugees, she said.

climate crisis

The environment remains the biggest long-term concern.

The health of the planet is a major concern over the next decade, according to survey respondents, who cited climate change, extreme weather and failure to act on biodiversity loss as the top three risks.

The report noted that different countries are taking different approaches, with some moving faster to adopt a zero-carbon model than other countries. Both approaches come with downsides. While moving too slowly can lead to more radicals who think the government is not acting immediately, a rapid shift from carbon-intensive industries can lead to economic turmoil and put millions out of work. .

“The adoption of environmental policies in haste can also have unintended consequences for nature,” the report said. “There are many unknown risks from deploying still untapped biotechnological and geoengineering technologies.”

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