Economic and political polarization will rise this year, as collaboration between world leaders, businesses and policy-makers is needed more than ever to stop severe threats to our climate, environment, public health and technology systems. This points to a clear need for a multistakeholder approach to mitigating risk at a time when the world cannot wait for the fog of geopolitical disorder to lift. These are the findings of the World Economic Forum’s Global Risks Report 2020, published today.
The report forecasts a year of increased domestic and international divisions and economic slowdown. Geopolitical turbulence is propelling us towards an “unsettled” unilateral world of great power rivalries at a time when business and government leaders must focus urgently on working together to tackle shared risks.
Over 750 global experts and decision-makers were asked to rank their biggest concerns in terms of likelihood and impact and 78% said they expect “economic confrontations” and “domestic political polarization” to rise in 2020.
This would prove catastrophic, particularly for addressing urgent challenges like the climate crisis, biodiversity loss and record…
