Economic wars would become the norm, with increasing clashes between global powers. Effects of climate change no longer manageable. Growing poverty due to rapidly rising cost of living
Shortly before the annual meeting in Davos, the World Economic Forum (WEF) warns of risks in the coming years.
Global Risk Report lists as the biggest global risks in the next two years (Link: Overview of Methodology - Global Risks Report 2023 | World Economic Forum (weforum.org)
On a two-year horizon, the thousand or so experts and decision-makers surveyed see the cost-of-living crisis as the biggest risk, ahead of natural disasters and extreme weather events, as well as geo-economic confrontations such as the trade conflict between China and the United States of America. In addition, there is the risk of not being able to control the effects of climate change. The erosion of social cohesion and social divisions are also seen as a major problem, especially in America with its strong polarization of political culture.
Cost of living crisis
Natural disasters and extreme weather events
Geo-economic confrontations
Failure to mitigate the effects of climate change
Erosion of social cohesion and social divisions
Incidents with major environmental damage
Failure to adapt to climate change
Cybercrime and cyber insecurity
Natural resource crisis
Involuntary mass migration
Source: World Economic Forum
In addition to new risks, the report also sees a return of "older risks," such as inflation, a cost-of-living crisis, trade conflicts, geopolitical confrontations and the threat of nuclear war.
Few people of the younger generation still know these risks from their own experience. In addition, he said, there are new risks, including unsustainable debt levels, a new era of tugboatism, low global investment, and a shift away from globalization with a backward shift in supply chains.
The biggest global risks over the next ten years according to the risk report:
Taking a longer ten-year perspective, anticipated threats shift toward ecology. Respondents identify the greatest risk as not being able to manage the effects of climate change. This is followed by the similar fear that we will not be able to adapt sufficiently to climate change. Natural disasters and extreme weather events, the loss of biodiversity and the collapse of the ecosystem also rank third and fourth, as do risks resulting from the overexploitation of natural resources. Only in fifth place is involuntary mass migration, although this can be triggered by both wars and climate change.
Failure to mitigate the impacts of climate change.
Failure to adapt to climate change
Natural disasters and extreme weather events
Loss of biodiversity and ecosystem collapse
Involuntary mass migration
Crisis of natural resources
Erosion of social cohesion and societal divisions
Cybercrime and cyber insecurity
Geo-economic confrontations
Incidents with major environmental damage
Source: World Economic Forum
Decoupling of markets makes production more inefficient
Overall, the new "Global Risk Report" opens a very gloomy perspective. The ideological drifting apart of different cultures will fuel conflicts between countries and increase the risk of warlike clashes, it says. Economic warfare would become the norm, with increasing clashes between global powers.
National economic policies would become more focused on self-sufficiency and sovereignty and instrumentalized to counter the rise and opportunities of others. Instead of promoting trade and cooperation among nations, an escalating cycle of mistrust and decoupling of markets would emerge. The more geopolitics dominates the economy, the more inefficient production becomes. Technology will exacerbate inequalities, it said, while risks from cyberattacks will become a permanent problem.
The report stressed that while climate and environmental risks were clearly emerging, the world was inadequately prepared for them. The lack of progress on climate goals painfully exposes the chasm between what needs to be done and what is currently politically feasible, it said.
If the societies of the world would not be and economy and politics continue to be driven by maximum profit for investors and national or blockegoism, it will be tight for the lives of very many people. But we can get out of passivity and find ways to take advantage of the great opportunities the world can offer and make (co-)humanity and sustainability and justice politically majority-worthy: I am a pessimist as an analyst, but an optimist of will (Antonio Gramsci): Now we have to create the political will to secure peace, environment and social security for all worldwide. But we will not get this for free. A great many people must be prepared to tackle this on a voluntary basis and with staying power. We at the International PeaceFactory Wanfried are ready for this and invite everyone to form alliances. It is not enough to criticize the political power of the self-centered acting wealthy classes, but to overcome the power through a grassroots democratic competent alliance from the society. The report shows us which catastrophes threaten with a continuation like this. We suggest to take up the ball from Ghana, in the country where people are building a non-partisan and non-party network to fix their country together (Fix the country) and to organize ourselves similarly in our country and to network non-partisan to learn with and from each other and to support each other: "Let's fix our countries, Let's fix our world!"