Fiscal crises and the potential for a “fatal spiral” in some of the world’s most important economies are the most concerning risks for the world in the year ahead, according to a major yearly survey released today.
The World Economic Forum's annual report on the biggest risks in 2014 is now out, based on a survey of 700 decision-makers in business, academia, international organisations, governments and NGOs.
The risks of most concern in order are:
1 Fiscal crises in key economies
2 Structurally high unemployment/underemployment
3 Water crises
4 Severe income disparity
5 Failure of climate change mitigation and adaptation
6 Greater incidence of extreme weather events (e.g. floods, storms, fires)
7 Global governance failure
8 Food crises
9 Failure of a major financial mechanism/institution
10 Profound political and social instability
If that didn't sound quite concerning enough, the WEF wants you to know that, far from being unique events, many of the risks are closely linked to the others.
There's also a handy chart assessing the likelihood of events against their potential impact, separating your garden variety data theft from the rather more concerning breakdown of critical information infrastructure.
Have a nice Thursday.