World needs to start countering long-term threats

In 2020, the world saw the catastrophic consequences of ignoring long-term threats such as pandemics, which are now among the main risks, according to the latest Global Risks Report 2021.

The Covid-19 pandemic has exacerbated existing disparities and social divisions, and its impact on the economy will be visible for the next 3-5 years. Within 5-10 years, however, it may lead to a weakening of geopolitical stability.

At the same time, environmental risks are still at the top of the list of the greatest global threats in terms of likelihood and scale of impact over the next decade.

When it comes to access to technology and digital skills, there is a gap between those who have them and those who do not; it can lead to an imbalance in social cohesion. The problem primarily affects young people who are struggling with the second, global crisis within one generation and may therefore lose the opportunity to take advantage of new opportunities.

For the first time, the report assesses the risks that respondents believe pose the most serious threats to the world. The current dangers (in the perspective of up to 2 years) concern to care for life and preservation of livelihoods. These include infectious diseases, the employment crisis, digital exclusion, and the disappointment of the younger generation. In the medium term (3-5 years), according to the respondents, the world will be additionally threatened by economic and technological risks, such as: bursting the price bubble on the asset market, failure of IT infrastructure, price instability, and debt crisis. They may take several years to materialize. Existential threats (5-10 years), such as weapons of mass destruction, the collapse of the state, loss of biodiversity, and negative effects of technological progress, dominate among long-term risks.

(WBJ)