[Infowarrior] - WEF: Global Risks 2010

[Richard Forno]

World Economic Forum
WEF: Global Risks 2010
A Global Risk Network Report

http://www.weforum.org/pdf/globalrisk/globalrisks2010.pdf

Three themes provide the backdrop for discussion in
this report. As the first chapter discusses, the increase
in interconnections among risks means a higher level
of systemic riskthan ever before. Thus, there is a
greater need for an integrated and more systemic
approach to risk management and response by the
public and private sectors alike. Second, while sudden
shocks can have a huge impact, be they serious
geopolitical incidents, terrorist attacks or natural
catastrophes, the biggest risks facing the world today
may be from slow failures or creeping risks.

Because these failures and risks emerge over a long
period of time, their potentially enormous impact and
long-term implications can be vastly underestimated.

These are risks linked to big shifts that are recognized
and which will roll out over many years, even decades.
For example, global population growth, ageing and the
ensuing rise in consumption have implications for
This year’s report explores a set of risks that share a
potential for wider systemic impact and are strongly
linked to a number of significant, long-term trends.
First, there are those which feature highly on the Global
Risks Landscape and which predated the recession
but have been exacerbated by its impact through
greater resources constraints or short-term thinking.

These include:

•Fiscal crisesand the social and political
implications of high unemployment

•Underinvestment in infrastructure, both new and
existing, and its consequences for growth, resource
scarcity and climate change adaptation

•Chronic diseases and their impact on both
advanced economies and developing countries
The report also notes how concerns over further asset
bubbles remain strong, as indicated by the Global Risk
Network Partner’s assessment for the Global Risks
Landscape.

The other risks discussed in this report are equally
systemic in nature and also require better global
governance but they currently feature less prominently
on the Global Risks Landscape. The report raises
these risks to understand if there is an “awareness
gap” around these areas and suggests that they
should not be forgotten in the focus on an integrated
and longer term view of risks. These risks include:
transnational crime and corruption; biodiversity
loss; and cyber-vulnerability.

http://www.weforum.org/pdf/globalrisk/globalrisks2010.pdf