16.3 C
London
Thursday, September 28, 2023
HomeVisualizing The Biggest Global Risks Of 2023
Array

Visualizing The Biggest Global Risks Of 2023

Date:

Related stories

SEPT 28/COMEX GOLD FALLS BY $13.45 TO $1861.50 //SILVER FALLS BY 8 CENTS TO $22,48 AS OPTIONS EXPIRY ENDS TOMORROW//PLATINUM CLOSED DOWN $21.95 TO...

GOLD PRICE CLOSED:  DOWN $13./45 TO $1861.50 SILVER PRICE CLOSED: DOWN $0.08   AT $22.48 Access prices: closes 4: 15 PM Gold ACCESS CLOSE 1867.00 Silver ACCESS CLOSE: 22.62 Shanghai Gold Benchmark Price USD  oz  AM2014.57 PM1985.03 Historical SGE Fix NEW YORK PRICE AT THE SAME TIME: $1874.00 premium  $111,00 xxxxxxxxxxxxxxxxxx Bitcoin morning price:, $26,467 UP […]

Clean Hydrogen Dreams Delayed By Rising Costs

There is currently not enough funding and support for hydrogen projects to roll it out on the scale they require to achieve the net-zero scenario by 2050, according to several energy experts. The widespread rollout of clean hydrogen projects has been r...

The US Government is Bussing Thousands of Migrants to San Diego

The United States government is bussing migrants to San Diego and other cities near the U.S.-Mexico border amid the ongoing […] The post The US Government is Bussing Thousands of Migrants to San Diego first appeared on Valuetainment.

Arizona Governor Katie Hobbs Mysteriously Steps Down for 24 Hours

Arizona Governor Katie Hobbs stepped down from her position for 24 hours, with state Treasurer Kimberly Yee serving as acting governor until Thursday. The post Arizona Governor Katie Hobbs Mysteriously Steps Down for 24 Hours first appeared on Valuetai...

Revolutionary Nickel-Gold Thermoelectric Surpasses Semiconductors

Researchers at the Vienna University of Technology discovered excellent thermoelectric properties of nickel-gold alloys. These can be used to efficiently convert heat into electrical energy. The researchers have published their results in the journal S...
Visualizing The Biggest Global Risks Of 2023

The profile of risks facing the world is evolving constantly. Events like last year’s invasion of Ukraine can send shockwaves through the system, radically shifting perceptions of what the biggest risks facing humanity are.

Visual Capitalist's Nick Routley created the graphic below to summarize findings from the Global Risks Report, an annual publication produced by the World Economic Forum (WEF).

It provides an overview of the most pressing global risks that the world is facing, as identified by experts and decision-makers.

These risks are grouped into five general categories: economic, environmental, geopolitical, societal, and technological.

Let’s dive into this year’s findings.

2023’s Risk Profile

In the lower–middle portion of the chart are the risks that could have serious impacts—such as attacks involving nuclear or biological weapons—but that were highlighted by fewer experts.

Over in the top-right quadrant of the chart are the risks that a number of experts mentioned, and that are causing a strain on society. Not surprisingly, the top risks are related to issues that impact a wide variety of people, such as the rising cost of living and inflation. When staples like food and energy become more expensive, this can fuel unrest and political instability—particularly in countries that already had simmering discontent. WEF points out that increases in fuel prices alone led to protests in an estimated 92 countries.

One risk worth watching is geoeconomic confrontation, which includes sanctions, trade wars, investment screening, and other actions that have the intent of weakening the countries on the receiving end. Efforts to mitigate this risk result in some of the key themes we see for the coming year. One example is the onshoring of industries, and “friend-shoring”, which is essentially moving operations to a foreign country that has more stable relations with one’s home country.

How Prepared Are We?

It’s one thing to be aware of risks, but it’s quite another to have the ability to head off negative events when they come to fruition.

The chart below is a look at how prepared we are globally to deal with specific types of risks that could arise in the next few years.

At the top of the chart are risks that experts feel society is better equipped to handle with current plans and resources. Moving towards the bottom of the chart are risks that experts feel are more of a threat since mechanisms for handling them are weak or non-existent.

Experts are generally more confident in solutions in the military or healthcare domains. Environmental and societal challenges leave policy and decision-makers less confident.

One telling observation from the data above is that none of the risks left a majority of experts feeling neither confident in our ability to prevent the risk from occurring, or prepared to mitigate its impact. As the 2020s are shaping up to be a turbulent decade, that could be a cause for concern.

Tyler Durden Sat, 01/14/2023 - 23:00

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories

LEAVE A REPLY

Please enter your comment!
Please enter your name here