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High-Impact/High-Likelihood Quadrant
Source: WEF Global Risks Report
Colour code: risks are ranked from Low (blue) to High (red)
The World Economic Forum methodology is briefly outlined below, and the top risks, as illustrated above, are listed.
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The animated version of Visualized: A Global Risk Assessment of 2021 and Beyond provides an even better visualization, with annotations like the following:
1. Unsurprisingly, ‘Infectious diseases’ is one of the top risks by both likelihood and risk.
2. Youth aged 15-24 today are staring down a turbulent future – chief among the risks they face being disrupted educational and economic prospects along with potential mental health challenges.
3. The world’s economic output suffered greatly in 2020, and could continue to stall as monetary stimulus proves less effective while pushing debt/GDP levels higher.
4. Although COVID-19 has accelerated the Fourth Industrial Revolution, its benefits are not all-inclusive – and may worsen existing inequalities.
5. Several countries are off-track in meeting emissions goals set by the Paris Climate Agreement in 2015. COVID-19 has also delayed progress in the shift to a carbon-neutral economy.
Note: Economists
are apparently required to write within the constraints of their profession (the
dismal science).
